Important Legislation To Be Discussed
From Councilmember Kymberly Marcos Pine, October 29, 2015
Bill 72, relating to property taxation was introduced in response to concerns raised by many Kapolei homeowners regarding their property taxes.
Under the current valuation structure, homeowners of flex units face the challenge of having their entire property classified as 'Commercial', which equates to approximately 254% more in taxes than if the property were classified as Residential.
Bill 72 proposes a new way to tax real property of flex units that will make it more realistic for homeowners of these units to operate home businesses. This bill will be up for second reading at the full council meeting.
Awakea at Mehana flex units provides homeowners with a combination of living and work spaces.
---30---
LINK: Bill 72
|