Housing (Property Taxes)

HB 2444 increases the state tax credit available to low-income household renters, raising the amount from $50 to $100 for each tax exemption claimed by the taxpayer. This change directly affects renters who qualify as low-income and claim tax exemptions, providing them with greater financial relief through their state tax return. The key provision is the specific dollar amount increase per exemption, making the credit more substantial for eligible households. The bill does not alter eligibility criteria or introduce new administrative requirements.

Removes from the definition of "public lands" lands set aside by the Governor to the counties for the purpose of affordable housing. Specifies that lands set aside by the Governor to the counties for affordable housing require legislative approval for the sale or gift of such lands. Effective 7/1/3000. (HD2)

SB 159 exempts specific housing developments from school impact fees, which are typically charged to new construction to fund school infrastructure. The bill directly affects qualifying housing projects (like apartment complexes or subdivisions) by removing a financial requirement they would otherwise owe to local school districts. This change modifies how school impact fees are applied, eliminating the assessment for the designated developments without altering broader fee structures. The bill is currently in the early stages of the legislative process.

Allocates ten per cent of conveyance tax collections to the Dwelling Unit Revolving Fund. Removes the annual cap on conveyance taxes paid into the Rental Housing Revolving Fund.

Deems a county inclusionary mandate as a form of development exaction and treats the mandate as a housing affordability impact fee. Provides parameters for a county's adoption or amendment of an inclusionary mandate for residential or mixed-use development. Establishes additional components for a needs assessment study for a county-imposed inclusionary mandate. Conditions the adoption or amendment of a county inclusionary mandate for residential or mixed-use development on written findings of essential nexus and rough proportionality and a determination of financial feasibility. (CD1)

Restructures the conveyance tax to a marginal rate system for the sale of properties with residential use, adjusts the tax for multifamily properties to reflect value on a per-unit basis, and applies a cost-of-living adjustment to conveyance tax rates. Allocates revenues from conveyance tax collections. Allocates a portion of conveyance tax collections to the Dwelling Unit Revolving Fund to fund infrastructure programs in areas that meet minimum standards of transit-supportive density. Allocates a portion of conveyance tax revenues to the Hawaii Agricultural Development Revolving Fund, Special Land and Development Fund, and Hawaiian Home Lands Infrastructure and Housing Special Fund. Establishes and appropriates funds out of the Hawaiian Home Lands Infrastructure and Housing Special Fund. Authorizes the Hawaii Agricultural Development Revolving Fund to be used to acquire land. Effective 7/1/3000. (SD1)

Requires each county to apply any applicable real property tax exemptions, reduced assessments, or tax classifications for any affordable housing subject to income, resale, or occupancy restrictions as of the date a qualifying owner takes title to the affordable housing for the upcoming tax period, consistent with county procedures. Effective 4/19/2042. (SD1)