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 Wednesday, March 10 2010 @ 09:13 AM HST

5 Property Tax Questions You Need to Ask

   

About Hawaii1. What is the assessed value of the property? Note that assessed value is generally less than market value. Ask to see a recent copy of the seller’s tax bill to help you determine this information.

2. How often are properties reassessed and when was the last reassessment done? Generally taxes jump most significantly when a property is reassessed.

3. Will the sale of the property trigger a tax increase? Often the assessed value of the property may increase based on the amount you pay for the property. And in some areas, such as California, taxes may be frozen until resale.

4. Is the amount of taxes paid comparable to other properties in the area? If not, it might be possible to appeal the tax assessment and lower the rate?

5. Does the current tax bill reflect any special exemptions that you might not qualify for? For example, many tax districts offer reductions to those 65 or over.




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5 Property Tax Questions You Need to Ask | 34 comments | Create New Account
The following comments are owned by whomever posted them. This site is not responsible for what they say.
Real Talk Podcast
Authored by: jason on Wednesday, February 21 2007 @ 04:40 PM HST
Aloha Karen! Thank you so much for the fantastic advice on your Real Talk
Hawaii podcast. My girlfriend and I are new listeners. We are seriously
considering careers in real estate and we need all the information we can find
on the subject. Although we are primarily looking for information on what it's
like to be a realtor or investor, we find the entire field fascinating! The
information on your podcast is clear and concise, and that's precisely what
other podcasts lack. What's more, it is fascinating to hear information that
appies to Hawaii. No other podcast does that. I did find another podcast
from Hawaii, but the person responsible only seems interested in pushing his
own properties. Your podcast gives valuable and unselfish advice about the
world of real estate in Hawaii. My only complaint is that here are only two
episodes so far. I am subscribed to your podcast and I check for new
episodes every morning. I would really love to see you and Shawn do
another podcast. Speaking of which, he is a terrific host and he asks the kind
of questions regular people like me would ask. Although I am sure he's
probably a real estate mastermind himself, right? As I said before, your
podcast is amazing. My girlfriend and I look forward to the next one!
- Jason from Oahu

P.S. Please do a podcast about what it takes to succeed in real estate. For
example, what kind of a person does well? What kind of an attitude do I
need? Also, what are the challenges of transitioning into real estate from an
ENTIRELY DIFFERENT FIELD? I would really appreciate your thoughts on this.
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