$350 worth of Property Tax Rebate 2023 has been approved in Honolulu, Hawaii. In this article, read and find out who will qualify for these payments!The Council of Honolulu in Hawaii has approved a one-time Property Tax Rebate 2023 for owners of owner-occupant houses. Furthermore, the Council has also finalized the program’s operating budget of $3.41 billion last week.
According to Lawley, about $53 million of the operating budget will be used to distribute the Property Tax Rebate 2023. This means that $350 worth of tax rebates will be given to 152,000 eligible beneficiaries who are expected to receive the payments.
Mayor Rick Blangiardi of Honolulu intends for the Property Tax Rebate 2023 to financially help homeowners deal with the increase in tax bills and house values that started happening just last year. Nonetheless, since it is a flat rebate, the tax relief will particularly benefit those who own houses of a lower value.
Who will qualify for the Property Tax Rebate 2023?
According to Donnelly, there is no action needed to be done to be able to qualify for the Property Tax Rebate 2023. This is because the tax rebates will automatically be deducted from a homeowner’s next tax bill.
Reportedly, the property tax of a house’s value in Honolulu is $3.50 per $1,000. This means that residents whose properties increased in value last year will also experience significant growth in property taxes. Property Tax Rebate 2023 worth $35o will be enough to cover a tax bill of up to $100,000.