Honolulu lawmaker eyes pricey homes for tax hike - Hawaii News Now - KGMB and KHNL

Honolulu lawmaker eyes pricey homes for tax hike

HONOLULU (AP) - A key Honolulu lawmaker is proposing increasing property taxes on high priced homes to lessen a potential hike on hotels and resorts.

The Honolulu Star-Advertiser reported Tuesday that Ann Kobayashi, chairwoman of the Honolulu City Council's budget committee, is proposing raising taxes on homes worth at least $1 million, to $6 for every $1,000 of assessed valuation.

That would be 50 cents more per $1,000 than what Honolulu Mayor Kirk Caldwell is proposing. It is $2.50 more per $1,000 compared with what homeowners pay now.

Kobayashi says the tax increase would raise revenue about $32 million per year.

Kobayashi is proposing that hotels pay $12.90 per $1,000 in valuation, 50 cents more per $1,000 than what they currently pay, but 50 cents less than what Caldwell proposes.

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