Urges Hawaii counties to freeze property taxes for homeowners aged 75 and older to improve financial stability.
The bill urges Hawaii counties to freeze real property taxes on the primary residences of homeowners aged 75 and older. This measure aims to create a more secure financial environment for these seniors, addressing the financial insecurity caused by their fixed incomes not keeping pace with rising living costs and inflation. The freeze would expire if the property is sold, transferred, or the beneficiary is no longer listed as an owner.
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