The state Legislature has agreed to increase the amount of revenue that each of the counties will get from the state's transient accommodation tax. Previously, the four counties (Honolulu, Maui, Hawaii/Big Island, and Kauai) received a total of $93 million a year. However, under the new agreement, the state will give a total of $103 million. This comes out to an additional $4.4 million for Honolulu County, $2.3 million for Maui County, $2 million for Hawaii County, and $1.5 million for Kauai County.
While the four mayors agree that the additional funds will help a little, the $10 million increase was significantly less than what they had hoped for. City Council officials may now need to make some tough choices as to which programs to cut for the following budget year.
Source: Honolulu Star Advertiser, 4-29-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
www.myhawaiicondo.com
www.myhawaiidreamhome.com
