Claim Your Share from the $53 Million Pot: One-Time $350 Rebate for Americans
In a significant financial relief move, Honolulu, the capital city of Hawaii, has given the green light for a one-time property tax rebate to the homeowners of occupied residences. This move is set to bring a windfall of $350 to all qualifying homeowners, with an estimated 152,000 residents poised to reap the benefits.
This rebate got the thumbs-up during the finalization of Honolulu’s robust operating budget of $3.41 billion just last week. A significant portion of this budget, approximately $53 million, has been earmarked to facilitate the distribution of these rebates.
Mayor Rick Blangiardi has voiced hopes that this additional funding will provide a much-needed buffer for homeowners grappling with the sharp surge in home values and corresponding tax bills over the past year. The unique structure of this flat rebate means it could provide more considerable relief to owners of lower-valued homes.
Residents eligible for this rebate need not lift a finger to avail of this financial assistance. The rebate amount will be automatically applied, reducing their next tax bill.
To put it in perspective, the property tax in Honolulu stands at $3.50 for every $1,000 of a home’s value. As such, residents who saw their property values skyrocket last year have also been hit with a steep increase in their property tax. This $350 rebate will cover the tax bill for up to $100,000 of a property’s value, providing substantial relief.
Meanwhile, for those not residing in Hawaii, there are still tax rebates that might be available. For instance, in Pensilvania, the state has rolled out its Property Tax and Rent Rebate Program, offering between $250 and $975 to older and disabled residents.
Eligibility for this program extends to residents aged 65 or older, widows and widowers aged 50 or above, or residents with disabilities who are at least 18 years old. While the maximum standard rebate is $650, certain residents may qualify for supplemental rebates of up to $975.
The window to apply for this rebate closes on June 30, with the distribution of rebates starting as early as July 1. Residents can check their eligibility and download an application form online.
