Property Assessment

[jdirgo]

3% cap is on the assessed value and my preliminary reading is not clear if it only applies to the building or total assessed value -- check with the county for that.

Homeowners are also assessed at a lower rate (per thousand) than non-owner occupied properties. Live in your home and you can avoid a lot of property tax. I am not kidding when I say that I pay more in property taxes for one lot in Kapoho than I do on my home and that's been true for years.

Another thing to keep in mind is that (at least for me) the standard homeowner's exemption is $40,000 but starting in 2005, an additional exemption of 20% of the total assessed value was passed. For example, my exemption is actually almost $70,000 after the 20% was added on.

I won't say any amounts, but let's just say that I am happy with my assessed value.

John Dirgo, R, ABR, e-PRO
Aloha Coast Realty, LLC
808-987-9243 cell
http://www.alohacoastrealty.com