LIHU‘E — The Kaua‘i County Council on Wednesday is expected to consider a bill first introduced in January that would significantly increase real property tax exemptions for resident homeowners. Bill 2425, introduced in January by Councilman Tim Bynum, originally would
LIHU‘E — The Kaua‘i County Council on Wednesday is expected to consider a bill first introduced in January that would significantly increase real property tax exemptions for resident homeowners.
Bill 2425, introduced in January by Councilman Tim Bynum, originally would increase exemptions to $225,000 for resident homeowners ages 60 and younger, to $250,000 for qualified homeowners ages 60 to 70, and to $275,000 for homeowners over the age of 70.
Bynum said the council’s Finance Committee on March 21 amended the proposed exemption to $175,000. Bynum said the new proposal was less than he wanted, “but it is better than seeing further increases.”
Exemptions now are $48,000 per year for owners under 60, $96,000 per year for resident homeowners ages 60 to 70 and $120,000 per year for those over 70.
Bynum said he has been told that if the bill does not pass Wednesday, “it will not happen this year.”
A Charter Review Commission meeting that had been reported as occurring on Monday, a county holiday, is scheduled April 2.
