Hawaii HB1410 restructures the conveyance tax to increase revenue, allocates funds for supportive housing, and ties tax rates to inflation.

Hawaii HB1410 restructures the conveyance tax to a marginal rate system, applying higher rates to property values exceeding specified thresholds. It adjusts the tax for multifamily properties based on per-unit value and increases revenue by approximately thirty percent, generating an estimated $35,000,000 annually. The bill allocates a portion of the additional revenue to permanent supportive housing and infrastructure in transit-oriented development zones. It also ties conveyance tax rates to a cost-of-living adjustment to maintain equity over time.

Hawaii HB1410 restructures the conveyance tax to increase revenue, allocates funds for supportive housing, and ties tax rates to inflation.

Hawaii HB1410 restructures the conveyance tax to a marginal rate system, applying higher rates to property values exceeding specified thresholds. It adjusts the tax for multifamily properties based on per-unit value and increases revenue by approximately thirty percent, generating an estimated $35,000,000 annually. The bill allocates a portion of the additional revenue to permanent supportive housing and infrastructure in transit-oriented development zones. It also ties conveyance tax rates to a cost-of-living adjustment to maintain equity over time.