HI HR162

Urges all four Hawaii counties (Honolulu, Hawaii, Kauai, and Maui) to freeze property taxes at current levels for homeowners who have continuously resided on their property for the last five years

Identifies property tax increases as a burden on homeownership affordability and cites development-driven property value increases as a contributing factor

Notes that fear of rising property taxes from new developments has created anti-development sentiment among residents

States that revenue losses from a property tax freeze could be offset by taxes collected from new property developments

Requires certified copies of the resolution be sent to all four county mayors and their respective county council chairpersons