Real Estate in Puna Is still over priced

[janet]

"Lower valuations"?

The Assessed value (not Market value) of our home increased by 10% this year.

[Punatick]

Janet....your exactly right. The assessed values are going down, but the tax percentages are going up. Just a side note......your local assessor is supposed arrive at valuations the same way an appraiser would ......but welcome to Hawaii county. That's why they only allow a very short period of time to contest ( like a week) the assessment. If you want a real laugh, look at the property tax structure now and note the substantial increases put into law the last couple of years. If values do go up, the amount of tax will be substantially higher than pre- bubble. Now how will the people in Honolulu get more revenue to fight an ever increasing deficit. Grab your wallets. It's either GE tax or property tax.

[StillHope]

Punatic,Kathy already answered your question to me.

[Punatick]

Just so everyone gets it ......take a look at this article, especially the last few paragraphs regarding taxes:
http://www.starbulletin.com/news/2010031...onomy.html
That's the States story

Now read this recent letter from the Mayor of Hawaii County:
http://www.hawconews.com/hawaii-county-n...sions.html

If after reading this you think that your taxes will go down and roads are going to built in Puna in the near future then, the vog is getting to you.

[David M]

quote:

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Originally posted by StillHope

No problem,Mauka.
As far as the real estate goes,there's some good in the process -the property tax is getting lower.

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Lower values/assessments - maybe
Lower taxes - doubtful (better chance of Madam Pele moving to NYC)

David

Ninole Resident

[Sherrill Watson]

So do ya'all think our assessed values went up because they're suddenly worth more? Or does Honolulu needs more $$$ ?????? Sheeesh!

Good news, (or not, depending if you're a buyer or seller) our RE office reports a steady rise in sales volume, purchase prices, and business in general, paralleled at most friend's offices, in the last three months. Is this because the tax credit is about to run out? Or are we FINALLY in an upward sales trend? We'll know by the end of May. Of course, if you're just living on the property & are happy here, who cares???? It's just paper.

Maybe by next year our property will be "worth" (i.e. saleable) at the assessed valuation!