HONOLULU (HawaiiNewsNow) - Honolulu council members unanimously voted to override the mayor’s veto of a bill aimed at lowering property taxes.
The measure, Bill 3, drops the tax by about $70 for most Oahu homeowners who live in their houses.
The council said it was time to revisit the property tax exemptions in the interest of the people.
“The last time we increased real property tax exemptions was in 2006, and the values of our homes were much different then,” said Honolulu City Councilwoman Heidi Tsuneyoshi. “Bill 3 is a very modest approach to give our residents some very needed support for the substantial increases in their real property assessments.”
Mayor Caldwell rejected the bill, saying it would cost the city about $10 million dollars a year in revenue, but Tsuneyoshi said the bill is a first step in making Hawaii a more affordable place to live.
“This bill is a start in the right direction and a start in a change in mindset,” Tsuneyoshi added. “Our residents continuously face serious challenges in being able to afford to call Hawaii home with record numbers of residents leaving our state daily. We as elected officials must do better.”