04-23-2018, 01:51 PM
http://www.westhawaiitoday.com/2018/04/2...education/
https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=2922&year=2018
The idea is that there should be a State-level property tax on "investment real property" in order to "support public education". Testimony in support from DOE, HSTA, etc. Testimony in opposition from the Counties.
We're also supposed to believe that tourists and/or rich investors will be footing the bill, so the money is effectively "free".
Most likely outcome: DOE funding is cut to offset the new tax revenue; DOE won't actually get "more" money.
Because this is a constituational amendment, a future Legislature can "alter the deal" as they see fit, for example by increasing the rate, expanding the tax to homeowners, etc.
https://www.capitol.hawaii.gov/measure_indiv.aspx?billtype=SB&billnumber=2922&year=2018
The idea is that there should be a State-level property tax on "investment real property" in order to "support public education". Testimony in support from DOE, HSTA, etc. Testimony in opposition from the Counties.
We're also supposed to believe that tourists and/or rich investors will be footing the bill, so the money is effectively "free".
Most likely outcome: DOE funding is cut to offset the new tax revenue; DOE won't actually get "more" money.
Because this is a constituational amendment, a future Legislature can "alter the deal" as they see fit, for example by increasing the rate, expanding the tax to homeowners, etc.