#ConAmBad

During the general election, the public will be asked to vote on the following question:

 

“Shall the legislature be authorized to establish, as provided by law, a surcharge on investment real estate property to be used to support public education?”

 

REALTORS® wholeheartedly support funding education, but believe that opening the door for the State to start taxing real estate could do more harm than good. Why?

 

#1 Increase in Rentals and Cost of Living

►The amendment is so broadly worded that the tax could apply to all types of real property such as agriculture, commercial, industrial, residential, vacation rentals, apartments and hotels.

► Higher property taxes mean higher prices for housing and food.

Provides a “Blank Check” to State

► The tax applies to all real property regardless of value or ownership (NOT just to foreign-owned luxury properties).

► The amendment does not provide a cap on future property tax rates-meaning the legislature will have the freedom to set new tax rates without limits every year.

No Guarantee of More Funding for Education

► When asked if there is a guarantee that the tax collected will be used to increase funding for education, the President of the Hawaii State Teachers Assn. said, We cannot.” (HSAC 6/22/18)

► We support the public schools, but we simply cannot afford a Con Am tax that raises Hawaii’s cost of living and does not guarantee increased funding for education.

We can’t afford this Hawai’i

OUR ‘OHANA

43% of Hawai‘i residents must rent to meet their housing needs. This tax will increase their rents.

OUR BUSINESSES

Businesses owners facing an increase in costs for the land where they do business will pass the cost to consumers through goods and services.

OUR KUPUNA

Whether they own a rental to supplement their fixed income in retirement or rent, this tax will impact one of our most vulnerable populations.

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