Kailua-Kona, Hawaii – VIDEO by David Corrigan Facing an estimated budget deficit of up to $44 million, Hawaii County mayor Billy Kenoi admitted that everything is on the table during a community meeting in Kona on Tuesday… even a possible increase in property taxes. In this video, the mayor explains one way a property tax […]
Kailua-Kona, Hawaii – VIDEO by David Corrigan
Facing an estimated budget deficit of up to $44 million, Hawaii County mayor Billy Kenoi admitted that everything is on the table during a community meeting in Kona on Tuesday… even a possible increase in property taxes.
In this video, the mayor explains one way a property tax can be implemented. By collecting the same amount on property tax next year as was collected this year, despite the projected drop in property values, the county will be able to make up for the loss in revenues. The rate increase would therefore be enacted without actual payments having to go up.
The county is also waiting to see if the state will move to withhold each county’s share of the Transient Accommodations Tax, or TAT, which would increase the budget deficit by another $17 million.
The public Q&A was a part of the Kona Town Meeting, moderated by Fred Housel, president of Community Enterprises, Inc.
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STORY SUMMARY
Kailua-Kona, Hawaii – VIDEO by David Corrigan Facing an estimated budget deficit of up to $44 million, Hawaii County mayor Billy Kenoi admitted that everything is on the table during a community meeting in Kona on Tuesday… even a possible increase in property taxes. In this video, the mayor explains one way a property tax […]
Kailua-Kona, Hawaii – VIDEO by David Corrigan
Facing an estimated budget deficit of up to $44 million, Hawaii County mayor Billy Kenoi admitted that everything is on the table during a community meeting in Kona on Tuesday… even a possible increase in property taxes.
In this video, the mayor explains one way a property tax can be implemented. By collecting the same amount on property tax next year as was collected this year, despite the projected drop in property values, the county will be able to make up for the loss in revenues. The rate increase would therefore be enacted without actual payments having to go up.
The county is also waiting to see if the state will move to withhold each county’s share of the Transient Accommodations Tax, or TAT, which would increase the budget deficit by another $17 million.
The public Q&A was a part of the Kona Town Meeting, moderated by Fred Housel, president of Community Enterprises, Inc.