FOR IMMEDIATE RELEASE: Council Chair Tommy Waters Fights Rising Costs with Expanded Tax Relief for Homeowners and Kūpuna

HONOLULU — Honolulu City Council Chair Tommy Waters is taking further action to combat Oʻahu’s rising cost of living by introducing two bills that would reduce the taxable value of owner-occupied homes and provide additional relief for kūpuna homeowners.

Bill 45 (2026) and Bill 46 (2026) would increase the City’s real property tax exemptions for homeowners and residents age 65 and older, continuing a multiyear effort led by Waters to help local families and kūpuna afford to remain in their homes as property values and everyday expenses rise.

“Homeowners should not be priced out of the communities they have spent their lives building simply because the value of their property has increased,” Waters said. “We have held property tax rates steady, but that alone is not enough when higher assessments continue to drive up tax bills. These bills provide direct relief to homeowners and greater protection for our kūpuna.”

Bill 45 would increase the standard home exemption from $140,000 to $160,000 of a property’s assessed value for owner-occupied principal residences. The higher exemption would reduce the taxable value used to calculate a qualifying homeowner’s real property tax bill.

Bill 46 would provide additional relief for kūpuna by increasing the exemption for qualifying homeowners age 65 and older from $180,000 to $200,000. A taxpayer must be at least 65 years old by June 30 preceding the applicable tax year and qualify for the underlying home exemption.

Both proposed increases would take effect for tax years beginning July 1, 2028.

"Responsible tax policy is not simply about holding the line on tax rates,” Waters added. "It is also about recognizing when rising property assessments have the same effect as a tax increase and taking steps to reduce that burden. Bill 45 and Bill 46 return a portion of that relief to homeowners, kupuna, and working families who have shouldered these rising costs."

For more information, visit:

• Bill 45 (2026): Amending provisions relating to the real property tax home exemption.

• Bill 46 (2026): Amending provisions relating to the real property tax home exemption for taxpayers 65 years of age or over.

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Video Asset: Bill 45 & 46 Soundbite & Video

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Media Contact:
Taylor Ursulum
Communications Manager
Honolulu City Council  
D: (808) 768-5094 
taylor.ursulum@honolulu.gov