The City and County of Honolulu is offering significant property tax relief this year, but homeowners have to apply by the end of the month.
Sept. 30 is the deadline for homeowners to apply for $120,000 off the taxable value of an owner-occupied home. If you’re over 65, the exemption is $160,000.
In July 2023, the Honolulu City Council passed Bill 40, increasing the deduction from $100,000 to $120,000. Officials calculated that property values had risen so much they could increase the exemption and still have enough funds to provide city services.
Bill 40 applied to tax years beginning July 1, 2024.
Owners with an existing home exemption do not need to reapply for the new exemption amounts.
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