Featuring a multi-generational custom home in Kapahulu

                                Free and open to the public

WHERE:               3247  Brokaw Street – Kapahulu

GRAHAM BUILDERS PRESENTS “BUILDING YOUR HOME FOR LIFE”TM SEMINAR

WHERE:               Honolulu Country Club

                                1690 Ala Puumalu Street

LĪHU‘E – County officials are reminding property owners about the changes to the county’s real property system that will take effect on July 1.

Ordinance No. 920, the law mandating the changes, was passed in December of last year to provide for a fair, more efficient real property tax system.

One of the most significant changes pertains to properties that are owner-occupied and also have long-term affordable rentals (LTLs).

Under the new law, owners of this type of dual usage properties are now eligible for the homestead tax rate as well as the permanent home use (PHU) tax cap. To qualify, LTLs must be leased for one year or longer at levels that don’t exceed 80 percent of the Kaua'i median household income, which are established annually by the U.S. Department of Housing and Urban Development.

Applications for the new tax rate for dual usage properties must be submitted by September 30, 2012.