The Honolulu City Council has given its approval on a $1.96 billion operating budget and a $588.7 million capital improvement budget for the new fiscal year, which will start on July 1, 2012. The City Council noted that it will not increase property tax rates and noted that a slight increase in property value helped to balance the budget. Amongst the major capital improvements would be $100 million to fix and improve road conditions around the city.
Source: Honolulu Star Advertiser, 6-7-2012, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
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