Tax Watch: higher taxes proposed for homes over $600,000

Rep. Rida Cabanilla (D, Waipahu-Ewa), House Housing Chairwoman, wants to increase the conveyance tax on homes priced more than $600,000 to help the homeless. “I’m going to tax those expensive-priced homes… That would be spent for the chronic homeless” (“Tax on pricy homes eyed to fund affordable housing,” Star-Bulletin, 1/14/10).

This proposed tax is unaffordable and won’t solve the “problem” of the homeless.

  • The average sales price for a single-family home was $684,341 in 2009, according to the Honolulu Board of Realtors – well over Rep. Cabanilla’s “expensive-priced” designation.
  • The higher tax would make it harder for families to afford a home.
  • Hard-working, responsible home-buyers would be punished.
  • There would still be homeless people who don’t want to get help, as state comptroller Russ Saito stated.

We need to watch any legislators who support this proposal and vote them out of office.

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One Comment on “Tax Watch: higher taxes proposed for homes over $600,000”

  1. Thank you for this blog, it is very informative and I will be sure to reference it when needed throughout our website.

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