Urging The Department Of Taxation, In Consultation With The Department Of Hawaiian Home Lands, To Conduct A Feasibility Study On Providing Tax Breaks To Individuals Who Sell Property To Native Hawaiians On The Department Of Hawaiian Home Lands Waitlist.
The findings from the proposed feasibility study could lead to potential changes in state tax policy, particularly concerning property transactions involving Native Hawaiians. By assessing the viability of tax breaks, the resolution aims to create pathways that would encourage current property owners to sell to Native Hawaiians waiting for homestead properties. This could alleviate some of the housing challenges faced by Native Hawaiians, promoting home ownership and stability within the community.
HCR173 is a House Concurrent Resolution from the Thirty-second Legislature of the State of Hawaii, urging the Department of Taxation, in consultation with the Department of Hawaiian Home Lands (DHHL), to conduct a feasibility study on providing tax breaks to individuals who sell property to Native Hawaiians on the DHHL waitlist. This resolution addresses the urgent need for more affordable housing for Native Hawaiians, emphasizing the disproportionate representation of this group among the state's homeless population and their significant numbers on the homestead waitlist, which totals around 28,700 applicants.
While the resolution seeks to address important socio-economic issues, the concept of tax breaks for property sales could encounter debate regarding the implications of such benefits on state revenue and equitable application across different communities. Additionally, the feasibility study itself may bring forth concerns from various stakeholders about how to effectively implement such policies and the potential repercussions on the housing market in Hawaii, where affordability is a increasingly pressing issue.