Hawaii Real Estate State Practice Exam

Question: 1 / 400

Are real property taxes assessed only on individual condo units?

Yes

No

Real property taxes in Hawaii are not assessed solely on individual condo units; instead, they can also be applied to the entire condominium property as a whole, including common areas shared by all residents. While individual unit owners may receive a portion of the assessment based on the value of their specific unit, the overall tax is determined by the assessed value of the property, which includes land and common elements. This means that condo associations or management may pay the property taxes collectively, and then they typically allocate those costs to individual owners based on certain calculations.

Understanding this helps ensure that prospective buyers and current property owners recognize the dynamics of property taxes in relation to condos and not just individual units. This broader perspective is essential for managing financial responsibilities within a condominium community.

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Only if they are leasehold

Only for high-value units

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