HONOLULU — A key Honolulu lawmaker is proposing increasing property taxes on high priced homes to lessen a potential hike on hotels and resorts. ADVERTISING HONOLULU — A key Honolulu lawmaker is proposing increasing property taxes on high priced homes
HONOLULU — A key Honolulu lawmaker is proposing increasing property taxes on high priced homes to lessen a potential hike on hotels and resorts.
The Honolulu Star-Advertiser reported Tuesday that Ann Kobayashi, chairwoman of the Honolulu City Council’s budget committee, is proposing raising taxes on homes worth at least $1 million, to $6 for every $1,000 of assessed valuation.
That would be 50 cents more per $1,000 than what Honolulu Mayor Kirk Caldwell is proposing. It is $2.50 more per $1,000 compared with what homeowners pay now.
Kobayashi says the tax increase would raise revenue about $32 million per year.
Kobayashi is proposing that hotels pay $12.90 per $1,000 in valuation, 50 cents more per $1,000 than what they currently pay, but 50 cents less than what Caldwell proposes.
