The value of Oahu property declined this year. The city and county of Honolulu, which governs the entire island, mailed tax assessment notices this week, and officials say total gross assessed valuation of all taxable real property on Oahu decreased from $191.2 billion to $178.3 billion, an overall decrease of 6.7%.

Excluding new parcels and changes to existing parcels, the total gross valuations decreased by $16 billion, or 8.4%.

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