The Kooks Are Targeting Real Estate For Tax Increases!

February 8th, 2010 categories: Rants & Riffs, The Market

Every January Honolulu taxpayers should be very concerned because the Hawaii State Legislature goes into session. If you have been watching the news you might be aware that all levels of Government are experiencing revenue short falls. Rather than curbing spending, the majority of our elected officials are marching lockstep toward raising taxes to cure the problem they created. Today’s Pacific Business News is reporting that representative Rida Cabanilla is proposing to levy a new tax of 1% of any commercial or residential property sale.

“The proposed tax, which would take effect July 1 and sunset after five years, would be on the gross proceeds of a sale, minus a real estate salesperson’s commission and conveyance tax, and would apply to both commercial and residential properties.” CLICK HERE TO READ THE ENTIRE PACIFIC BUSINESS NEWS ARTICLE.

I am not going to bore you with all of the reasons that this proposal is bad for real estate and the Hawaiian economy. Unfortunately, Hawaii’s governmental officials are blind to the idea that they need to decrease spending first. Then they need to reduce taxes so those of us that work at expanding the economy and jobs, can help to grow the state out of economic doldrums. Think about it.

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If you would like to discuss your real estate needs, feel free to call me at 808-737-2093 or toll free at 877-737-2093. You can email me at keahi@lava.net.

This entry was posted on Monday, February 8th, 2010 at 1:39 pm and is filed under Rants & Riffs, The Market. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.