![]() ![]() Rate of Tax for Second Home or Investment PropertyĬonveyance Tax for Second Home or Investment Property While the percentages look low let’s take a look at the impact of the tax for the sale of a home for both $500,000 and $1,500,000. The lowest rate is currently 0.10% and the highest rate is 1.25%. Depending of the value of the property this may or may not be a substantial difference. If the answer is no to either of these questions then you pay a higher rate of tax. So basically: Is the property a condominium/single family residence and can you claim a county homeowner’s exemption (residency and primary residence requirements need to be met). The rate depends on the asset type and the eligibility of claiming a county real property tax homeowner’s exemption with respect to the property transferred. The Conveyance Tax is a progressive tax based on the purchase price of the real estate property. Oahu Real Estate Market Snapshot for March 2018Ī Tax on the Sales Price of Your Home or Condo You Need to ConsiderĬhapter 247 of the Hawaii Revised Statutes, imposes a tax (Conveyance Tax) on all transfers of interest in real estate, including leases, exchanges, and assignments.Now is the Best Time to Buy for Hawaii Home Buyers.Oahu Hawaii Real Estate Market-1st Quarter 2019.
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