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Hawaii has the lowest property tax rates in the US. It makes it extremely cheap for a mainlander to buy property and hold it empty except for the small amount
by Kon-Peki 3y ago
Hawaii has the lowest property tax rates in the US. It makes it extremely cheap for a mainlander to buy property and hold it empty except for the small amount of time they visit.
Combined with the high income and business taxes, they've created a tax system that favors non-residents over residents (and retirees over the working age).
Of course the system sucks. It was designed to suck.
- WarOnPrivacy 3y ago> Hawaii has the lowest property tax rates in the US. It makes it extremely cheap for a mainlander to buy property Or maybe "Residents of Hawai‘i face the highest housing costs in the nation" ref: https://uhero.hawaii.edu/wp-content/uploads/2023/06/TheHawaiiHousingFactbook.pdf https://uhero.hawaii.edu/wp-content/uploads/2023/06/TheHawai...
- Kon-Peki 3y agoThis stems from the intentional decision to make absentee ownership have very low carrying costs. If you build a housing unit in Hawaii, nearly anyone in the entire world is an eligible purchaser. Shift the tax distribution to favor workers/residents, and a huge percentage of eligible purchasers drop out of contention. Make it so that it is a dumb idea to buy housing in Hawaii unless you spend a really significant amount of time there.