Hawaii HB1410 restructures the conveyance tax to a marginal rate system, increasing revenue and allocating funds to supportive housing and.

Hawaii HB1410 amends the conveyance tax structure to a marginal rate system, applying higher rates only to property values exceeding specified thresholds. It adjusts the tax for multifamily properties on a per-unit basis and increases conveyance tax revenue by approximately thirty percent, generating an estimated $35,000,000 annually. The bill raises the tax rate on non-owner-occupied homes valued at over $10,000,000 and slightly increases the tax rate on owner-occupied homes valued at over $6,000,000.

Hawaii HB1410 restructures the conveyance tax to a marginal rate system, increasing revenue and allocating funds to supportive housing and.

Hawaii HB1410 amends the conveyance tax structure to a marginal rate system, applying higher rates only to property values exceeding specified thresholds. It adjusts the tax for multifamily properties on a per-unit basis and increases conveyance tax revenue by approximately thirty percent, generating an estimated $35,000,000 annually. The bill raises the tax rate on non-owner-occupied homes valued at over $10,000,000 and slightly increases the tax rate on owner-occupied homes valued at over $6,000,000.