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.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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