Hawaii House Bill HCR123

Hawaii 2024 Regular Session

• Introduced: 3/7/24
• Refer: 3/13/24

Caption

Urging Each County To Stop Levying Minimum Real Property Taxes Upon Property That Would Be Greater Than The Real Property Tax Levied Under The County's Standard Tax Rate For The Property.

Impact

The proposed change in HCR123 could significantly influence state taxation laws, particularly those related to how property taxes are assessed and levied by counties in Hawaii. Under current laws, counties have the authority to set minimum property tax thresholds, which may not necessarily reflect the actual value of properties as determined by their assessed value. This resolution suggests a shift towards fairness in tax assessment, potentially reducing the total tax burden on property owners while suggesting that the revenue generated from taxation should align with actual service needs.

Summary

HCR123 is a House Concurrent Resolution from the State of Hawaii, urging each county to cease imposing minimum real property taxes that exceed the standard tax rates set by the counties themselves. The resolution aims to address the potential inequities that these minimum taxes create for property owners, who might pay more than they would under standard tax calculations. This legislation emphasizes the issue of financial burdens placed on property owners resulting from local ordinances that demand minimum tax payments.

Contention

While the resolution calls for an adjustment towards equitable taxation, it may lead to contention among counties that rely on the revenue generated from minimum property taxes. Some local governments may argue that these revenues are essential for funding essential services. Therefore, discussions surrounding HCR123 may include debates on the balancing act between fair tax practices and the financial needs of local governments. Critics might express concerns over how such measures could impact county budgets and their ability to maintain necessary public services.