The residential property tax rates for Oahu, Hawaii will be increasing this new fiscal year (July 1, 2011 to June 30, 2012).  The current tax rate is $3.29 per $1,000 of the net taxable value for land and for the building.   This is only for the Residential Property Tax Rate on Oahu, Hawaii and does not include commercial, industrial, hotels, resorts and several other categories.

The new tax rate will be $3.50 per $1,000 of net taxable value.   This increase of .21 cents is nothing major.

An example of the change in tax rate for an owner occupied property on the island of Oahu, Hawaii for a home with a combined land and building value of $600,000:

Old Tax Rate of $3.29 would be $1,974 yearly property tax with zero exemptions.

New Tax Rate of $3.50 would be $2,100 yearly property tax with zero exemptions.

For more information about Hawaii Real Esatate, Hawaii Property Tax Rates and how you can save money by filiing a property tax exemption form, contact David Kucic at Hawaii Military Realty, Inc.