Hawaii SB1218 increases conveyance tax rates on property sales to fund affordable housing, land conservation, and homeless services.

Hawaii SB1218 proposes to increase conveyance tax rates on property sales to fund affordable housing, land conservation, and homeless services. The bill establishes a homeless services special fund and increases conveyance tax rates for certain properties. It allocates collected conveyance taxes to the affordable homeownership revolving fund, homeless services special fund, and general fund. The bill also exempts certain property conveyances from conveyance taxes and establishes conveyance tax rates for multifamily residential properties.

Hawaii SB1218 increases conveyance tax rates on property sales to fund affordable housing, land conservation, and homeless services.

Hawaii SB1218 proposes to increase conveyance tax rates on property sales to fund affordable housing, land conservation, and homeless services. The bill establishes a homeless services special fund and increases conveyance tax rates for certain properties. It allocates collected conveyance taxes to the affordable homeownership revolving fund, homeless services special fund, and general fund. The bill also exempts certain property conveyances from conveyance taxes and establishes conveyance tax rates for multifamily residential properties.