Property tax assessments are down on Oahu

Property tax assessments were mailed out to Oahu property owners last week, down 6.7% compared with a year ago.  The decrease is a mixed blessing.  For owners of Oahu real estate it means a break in taxes, always a positive for the wallet.  On the flip side it means less money for the counties within the State of Hawaii, a tough position regarding services like education and healthcare.

According to a recent article from the Honolulu Advertiser, “The total gross assessed valuation of all taxable property dropped from $191.2 billion to $178.3 billion.”  On the bright side property sales on Oahu seem to be picking up and the recession appears to be slowly ending across the nation.

For more information about Kapolei Real Estate please contact John Riggins, Certified Distressed Property Expert. Click here for access to the Oahu MLS and all available listings in the Kapolei area.

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