Increases conveyance tax rates on high-value properties to fund affordable housing and homeless services.

The bill increases conveyance tax rates on properties valued over $5,000,000 to fund affordable housing and homeless services in Hawaii. It establishes a homeless services special fund and an affordable homeownership revolving fund. The conveyance tax rates are set at 0.5% for homes under $5,000,000, 4% for homes between $5,000,000 and $10,000,000, and 6% for homes over $10,000,000. The bill aims to address the high cost of housing and homelessness by providing sustainable funding for affordable housing projects and homeless services.

Increases conveyance tax rates on high-value properties to fund affordable housing and homeless services.

The bill increases conveyance tax rates on properties valued over $5,000,000 to fund affordable housing and homeless services in Hawaii. It establishes a homeless services special fund and an affordable homeownership revolving fund. The conveyance tax rates are set at 0.5% for homes under $5,000,000, 4% for homes between $5,000,000 and $10,000,000, and 6% for homes over $10,000,000. The bill aims to address the high cost of housing and homelessness by providing sustainable funding for affordable housing projects and homeless services.