Honolulu budget would tax absentee owners

Honolulu Mayor Mufi Hannemann’s proposed budget for the fiscal year beginning July 1 would raise the real property tax rate for non-owner-occupied homes and condominiums. The city would create a new class of taxpayers for investors and owners of second homes, setting the real property tax rate for the newly created class at $3.72 per $1,000 of assessed value. Owner occupants would continue to pay $3.42 per $1,000 of assessed value, with no additional taxes or fees levied.

Hawaii bankruptcy filings rise 29% - Hawaii’s economy is showing signs of lingering weakness, evidenced by a 29 percent year-over-year increase in bankruptcy filings in February, according to statistics from the U.S. Bankruptcy Court. A total of 291 cases were filed in the month, up from 226 in February 2009. Bankruptcy cases have been up since the beginning of the year as more businesses are shuttered and consumers deal with pay cuts and layoffs. Filings soared 33 percent in January to 276 from 208 in the year-earlier period.

8% of Hawaii mortgages are 'underwater'
Hawaii foreclosures up 63% in September
Honolulu home sellers cut prices Long-term mortgage rates, home sales increase
News -5/29/2009-$8,000 UP-FRONT


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