Caldwell has been a paid member of the Territorial Savings Bank since 2007 and received the tax exemption until opting out in 2012, for political reasons, no doubt. You can bet he will opted back in as soon as he is out of office.  Anyone who has the money to purchase one of these homes does not need the tax exemption to help them maintain the home.  The exemption should be ended because it is a sham and unfair to taxpayers.