Honolulu Mayor Kirk Caldwell has warned the Honolulu City Council that either revenue would have to be increased or spending cut be made in order to balance the city’s $2.09 billion operating budget. Caldwell’s administration believes that there is a $67.5 million gap in the budget and the Mayor is suggesting either an increase in property taxes or bus fares to bridge the problem. The City Council had previously rejected Caldwell’s suggestion to increase the gas tax by 5 cents per gallon, which would have raised an estimated $15 million in revenue.
City Council Budget Chairwoman Ann Kobayashi responded by stating that the Council had a balanced budget in the works and that it will be presented shortly. Kobayashi stated, “We’re certainly not going to hurt anyone. We’re not cutting services, and we’re not going to raise property taxes or bus fares at this late stage. We wouldn’t be able to do that without holding hearings.”
Source: Honolulu Star Advertiser, 5-20-2013, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Broker-in-Charge, Realtor®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
