As discussed in our Blog on Wednesday, the County Council was mulling a decrease in home owner property taxes. Wedensday night, the county council confirmed that they would be reducing homeowner property taxes to a rate of $3.50 per $1000 of assesed value and will increase the homeowners exemption to $200,000. In terms of other home owner related items, the county approved $400,000 for a new Maui first time home buyer’s loan program. For additional information on the new County budget, check out this article from the Maui News.
How Are Sellers Impacted by The Department of Justice and NAR Settlement?
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Last week, I blogged about the settlement between the National Association of Realtors (NAR) and the Department of Justice (DOJ) and how it impacts buyers.