leilianidude - Officials estimate the revised structure could generate at least $9 million each year...
Any chance you could source/link to where ever you copied this from?
840 homes generating $9 million in additional property taxes - average increase of $10,700 per property...
Average increase of
at least $10,700 per property if at least $9 million is needed for those county-sponsored housing and homelessness programs.
But just think of all the benefits - if you're one of the other
~70,000 residential properties in Hawai'i County you're less likely to see tax hikes, and potentially your roads, schools, and other essential public infrastructure and services could be better maintained.
HJ - But oh, I can hear the wailing, "won't somebody think of the children billionaires?"
Seriously - I managed to listen in and no one bothered to testify before the council on the matter so apparently all the fat cats were content to be off doing something else, somewhere else. Maybe all are converts to the local church of Ainokea.
https://www.hawaiitribune-herald.com/202...cc09002ebf
The Hawaii County Council voted 5-1 on Wednesday to pass a measure creating a new residential property tax classification for luxury homes worth more than $4 million.
...
During Wednesday’s session, Kagiwada and Hustace commented in support of passing the bill, justifying it as a fair way of filling county coffers while creating a negligible financial burden on those who can most afford it.
“I think we’ve had some good discussions about this, and it’s pretty straightforward, pretty simple,” she said. “It really gives us more flexibility if we want to set up … to consider a more ‘kama‘aina’-centered property tax strategy.”
Using the Hawaiian term for “local,” Kagiwada implied that placing a higher tax burden on wealthy nonlocals is justified, calling the proposed new third-tier for luxury homes “another tool in our tool box.”
Hustace said that passing the bill would “give us another level within our revenue-generating sources,” enabling the county to pay for “big expenses going down the line.”
The new tax classification would only apply to vacant properties, high-end vacation rentals, investment properties, and “second, third (and) fourth homes,” as Kagiwada put it during Wednesday’s meeting. It would not be levied on owner-occupied homes, or on affordable rental and long-term rental properties — which are taxed at lower than residential rates.
The bill would impact 842 parcels, primarily in West Hawaii, with a combined estimated value of $5.3 billion. Since the new tax rate has yet to be determined, it remains unknown how much revenue could be generated from this increase." (more at link)
