What is one of the grounds for appealing a tax assessment in Hawaii?

What is one of the grounds for appealing a tax assessment in Hawaii?

• A. Improper property management
• B. Exceeds market value by more than 10% in urban areas or 20% otherwise
• C. Market fluctuations
• D. Inability to pay taxes

Answer: (B)

One of the grounds for appealing a tax assessment in Hawaii is that the assessed value of the property exceeds market value by specific percentages, which are more than 10% in urban areas or 20% in rural areas. This option recognizes that property owners have the right to dispute an assessment if they believe it is not reflective of the actual market conditions for their property. This standard helps ensure that property taxes are fair and equitable based on current market realities. By allowing appeals based on these specific thresholds, Hawaii aims to protect property owners from being overburdened by taxes based on inflated assessments that do not align with the properties' market values.

One of the grounds for appealing a tax assessment in Hawaii is that the assessed value of the property exceeds market value by specific percentages, which are more than 10% in urban areas or 20% in rural areas. This option recognizes that property owners have the right to dispute an assessment if they believe it is not reflective of the actual market conditions for their property. This standard helps ensure that property taxes are fair and equitable based on current market realities. By allowing appeals based on these specific thresholds, Hawaii aims to protect property owners from being overburdened by taxes based on inflated assessments that do not align with the properties' market values.