Ours are just about under a 1% of the assessed value. The breaks for seniors are based on what looks like very outdated income levels that are poverty levels now. I do not think it is fair to uproot seniors in this manner, but I am not going to say anything as I was repeatedly reminded by some here that we need to give way for young professional and families. 
Yep, the break in our county is at about $25k with a partial at $35k annual income and it adds back things like depreciation and others, so itâs not just AGI.
Tax the non residents more who put less stress on the school system police fire and emergency care? Public utilities and roadways. And leave for 9 months a year so everyone has a little more room to breathe.
I guess it makes folks feel better but man it makes no sense to me based principals of equity.
Hey they must be rich so who cares. They wonât come as often or be as willing to spend money at convenience stores restaurants builders gas stations car dealership for the local car insurance people local doctors dentists and real estate agents. But what the heck.
Non-residents donât get to vote. 
Plus, non-residents in a tourist destination like HI create a huge nuisance for the locals with their rolling stream of (often unlicensed) AirBNB visitors⊠So fair and fair IMO.
Our Honolulu property tax exempts the valuation of the home by $80K if youâre owner occupant, increasing to $120K for owners over 70. Thereâs another exemption if youâre totally disabled or blind, I believe.
I think those numbers seem reasonable.
This is the talk that gladdens my soul, that there is a limit on property taxes in some locations based on income. Up thread I had talked about the burden of property taxes in my town and how scared some of us single people are of having to move in old age as the taxes ever increase with no cap based on income.
Rosered, many years ago my ex challenged our assessment. I remember the assessor coming in and saying, oh, this is very nice. As my blood ran cold. We did not receive a decrease. My neighborhood went up $30,000 on average this year.
Private banker:
https://www.hawaiilife.com/blog/oahu-property-tax-rates-2018-2019/
"How Oahu Property Tax Rates for RES-A Properties Work
Oahu Oliver owns a Property A on Oahu with a tax assessed value of $1,200,000, and rents Property A out to a long-term tenant. He lives in another home, Property B, on Oahu. Since he resides in another home and rents Property A, he is not eligible for a home exemption on Property A.
The Oahu property tax rate for the first $1,000,000 of net taxable value is $4.50 per $1,000, so that tax on that portion of Property A is $4,500. The Oahu property tax rate on the next $200,000 is $9.00 per $1,000, so the tax on the second portion of the value is $1,800. Total annual property tax on this Residential A property would be $6,300.
If Oahu Oliver resided in Property A (and had applied for and received his owner exemption), his total tax would be $3.50 per $1000, for a total annual property tax of $4,200.
Hope this helps!"
Re: #13343
Seems like low or high net worth relative to income are usually a reflection of spending habits, rather than evidence of corruption or lack thereof (except at the very high end greater than The Millionaire Next Door frugality could produce).
Corruption may result in higher net worth, but it could also be a temptation for someone in financial distress (i.e. low or negative net worth).
Re: #13347
Seems like still over $200,000 income after income and payroll taxes. If half of that goes to the mortgage and private schools, that still leaves $100,000 per year left. Surely a family could live on some of that and save substantial amounts of money each year, right?
Supposedly he has a million dollars worth of home equity and retirement accounts. Sounds substantial to me. And one has no idea of the challenges others faceâŠhow long they have made a good income, past education or medical debts, charitable donations or if they support others. Hard to judge and criticize others when you donât know all the details. Not everyone saves every possible cent they can.
Hey if someone is an absentee landlord or rental company. - that is a commercial real estate investor or corporate owner. Commercial tax rates being higher makes sense. I was thinking of the regular old retiree with a second home they saved for their entire life. And use 3 months a year. Taxing this class more is a mistake. And they add valuable income to the community without the stress on municipal services.
With all due respect, a regular retiree does not own a second home. No how, no way. (A regular retiree just gets by and has to take SS at 62.)
I think of my cabin as adding stress to the community. I definitely want the fire service and sheriff to come. I donât spend a lot at the local grocery store compared to a year round family. The roads still need to be snowplowed. We donât volunteer in their schools or civic organizations.
Just under 1%! I would like to move to Seattle. Ours is over 4% of assessed value. I asked the question in another thread. Didnât get a satisfactory answer. We set up trusts in current state that does not have inheritance tax. We bought a property to move in a state with inheritance tax. Are we allowed to leave the trusts in current state when we move out of state? We will be talking to an estate attorney. In the meantime, it will be good to know what to expect.
As a federal judge, he doesnât really need to save for retirement. He will collect his full pay for life as a pension, or he can go for senior status, which gives him full pay with as little as a 25% workload if he chooses. There are plenty of options to work post-retirement, doing teaching or arbitration or whatever, and he could probably make more in retirement than he made as a judge.
How much would you put away if you were going to get a $220,000 pension? I donât think Iâd be saving much.
Excellent point, @notrichenough. He wonât have to worry about healthcare, either.
We can also probably assume that, should he be confirmed, early retirement will not be in his plansâŠ
@bluebayou I wasnât referring to all retirees or suggesting the average retiree meets that definition. I was speaking to the comparison between a commercial real estate investor and someone who owns a second home for retirement . Check out Florida for that cohort. Condos and small places as I said may have saved their whole life for and now use to soften the winters. They arenât the enemy or trust fund crowd or commercial investor being conflated here.
I understand your point private banker, I just disagree with it. Someone who can afford a second home, whether a âcondoâ or âsmall placeâ, that stays vacant nine months a year, has done well for themselves.
Are you suggesting that Florida give snowbirds a property tax break just bcos they have a domicile elsewhere?
If you understand than I am not sure why you misrepsented my view.
No. Not suggesting that at all.
The original topic came up that in some states these fellow citizens are taxed at a higher level on their second homes.
The response was that many are rented or investments. My point is there is a group in between that arenât commericial real estate investors.
I think rentals should be taxed differently like any commercial building is and should be.
But a home is different.
And they may be there part time but live with children.
I am not saying they werenât somewhat succesful financially.
But they are not all hedge fund execs either. Plumbers and other tradespeople who worked very hard and perhaps made sacrifices.
And they pay their full share but donât use as many resources. Thatâs already paying more. Just a view.