![]() Of such actual and full consideration provided that in the case of a lease or sublease, this chapter shall apply only to a lease or sublease whose full unexpired term is for a period of five years or more, and in those cases, including (where appropriate) those cases where the lease has been extended or amended, the tax in this chapter shall be based on the cash value of the lease rentals discounted to present day value and capitalized at the rate of six per cent, plus the actual and full consideration paid or to be paid for any and all improvements, if any, that shall include on-site as well as off-site improvements, applicable to the leased premises and provided further that the tax imposed for each transaction shall be not less than $1. (G) One dollar and twenty-five cents per $100 for properties with a value of $10,000,000 or greater, ![]() (F) One dollar and ten cents per $100 for properties with a value of at least $6,000,000, but less than $10,000,000 and (E) Eighty-five cents per $100 for properties with a value of at least $4,000,000, but less than $6,000,000 ![]() (D) Sixty cents per $100 for properties with a value of at least $2,000,000, but less than $4,000,000 (C) Forty cents per $100 for properties with a value of at least $1,000,000, but less than $2,000,000 (B) Twenty-five cents per $100 for properties with a value of at least $600,000, but less than $1,000,000 (A) Fifteen cents per $100 for properties with a value of less than $600,000 (2) For the sale of a condominium or single family residence for which the purchaser is ineligible for a county homeowner's exemption on property tax: (G) One dollar per $100 for properties with a value of $10,000,000 or greater and ![]() (F) Ninety cents per $100 for properties with a value of at least $6,000,000, but less than $10,000,000 and (E) Seventy cents per $100 for properties with a value of at least $4,000,000, but less than $6,000,000 (D) Fifty cents per $100 for properties with a value of at least $2,000,000, but less than $4,000,000 (C) Thirty cents per $100 for properties with a value of at least $1,000,000, but less than $2,000,000 (B) Twenty cents per $100 for properties with a value of at least $600,000, but less than $1,000,000 The State of Hawaii does not collect conveyance taxes or require a Conveyance Tax Certificate for documents that conform to the transfer on death deed as authorized under chapter 527, HRS. (A) Ten cents per $100 for properties with a value of less than $600,000 The tax imposed by section 247-1 shall be based on the actual and full consideration (whether cash or otherwise, including any promise, act, forbearance, property interest, value, gain, advantage, benefit, or profit), paid or to be paid for all transfers or conveyance of realty or any interest therein, that shall include any liens or encumbrances thereon at the time of sale, lease, sublease, assignment, transfer, or conveyance, and shall be at the following rates: Thus, a conveyance is taxable under the Conveyance Tax Law unless the conveyance is specifically exempted from the tax under section 247-3, HRS. The conveyance tax is triggered if a real property interest is transferred from one or more persons to another person or persons. Penalties and interest shall be added to and become a part of the tax, when and as provided by section 231-39.HI Rev Stat ยง 247-2 (2011 through Reg Sess) What's This? of the conveyance tax is not on income, financial gain, or financial loss. (b) The tax imposed by this chapter shall be paid at such place or places as the director of taxation may direct and shall be due and payable no later than ninety days after the taxable transaction, and in any event prior to the imprinting of the seal or seals as provided by section 247-5. There is hereby imposed and shall be levied, collected, and paid, a tax as hereinafter provided, on all transfers or conveyances of realty or any interest therein, by way of deeds, leases, subleases, assignments of lease, agreements of sale, assignments of agreement of sale, instruments, writings, and any other. (a) The tax imposed by this chapter shall be paid by the grantor, lessor, sublessor, assignor, transferor, seller, conveyor, or any other person conveying realty, or any interest therein, by a document or instrument subject to section 247-1 except, however, in the case where the United States or any agency or instrumentality thereof or the State or any agency, instrumentality, or governmental or political subdivision thereof is the grantor, lessor, sublessor, assignor, transferor, seller, or conveyor, the tax shall be paid by the grantee, lessee, sublessee, assignee, transferee, purchaser, or conveyee, as the case may be.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |