Posted at 2:03 a.m., Friday, August 31, 2007
Honolulu lowers penalty rate for late property taxes
Advertiser Staff
Mayor Mufi Hannemann has signed into law Bill 46, C.D. 1, establishing a specific penalty for delinquent property tax payments.The new provision reduces from 10 percent to 2 percent the penalty on delinquent taxes, for each month the taxes are overdue. The maximum penalty cannot exceed 10 percent of the taxes due. The City had been imposing a 10 percent penalty beginning the first day the tax payment was overdue. In keeping with current practice, the penalty will be levied on the delinquent taxes only, not on any accrued penalties.
