Mayor Kirk Caldwell has stated that he would like to increase the property tax rate for hotel and resort owners in an effort to raise money to address the homeless situation in Waikiki. Under Caldwell's proposal, hotel and resort owners would pay $13.40 per $1,000 of assessed value, a slight increase from the current amount of $12.40 that is currently being paid. The increase would generate an additional $4.1 million, out of which $2 million would go to the Waikiki Business Improvement District for rental vouchers that could give shelter to homeless individuals and families. Furthermore, $900,000 would go to the district for grants that provide outreach and other services for Waikiki's homeless and $750,000 would go to paying for the removal of items left on the sidewalks. Finally, $250,000 would go to increasing the frequency of sidewalk, bathroom and public area cleanings, and $200,000 would go to increasing security patrols.
Source: Honolulu Star Advertiser, 5-26-2014, www.staradvertiser.com
Posted by Jeff Uyemura-Reyes, Principal Broker, REALTOR®
Global Executive Realty, LLC
www.myhawaiihomesearch.com
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