Happy New Year! Prepare to pay more in 2018 to register your car, ride the bus
HONOLULU (HawaiiNewsNow) - The price of paradise will get a little ... pricier in 2018.
Everything from bus fares to the hotel room tax to car registration fees went up at 12:01 a.m. on New Year's Day.
Here's a look at what went into effect:
- Bus fares went up.
Effective New Year's Day, the one-way fare for adults is $2.75. That's an increase of 25 cents.
A one-day pass for adults, meanwhile, rose to $5.50 from $5. The one-day pass gives users unlimited rides for up to 27 hours.
A monthly pass for adults now cost $70, up $10.
And the annual pass will now set you back $770. Tat's a $100 increase.
The one-way fare for seniors will remain $1 in the new year, but a monthly bus sticker went up by a $1 to $6.
And the annual pass now costs $35, up from $5.
The City Council approved the rate increase this summer. Officials said they were necessary to ensure that rider fares were covering the percentage of operating expenses required by law.
For a full list of fares, click here.
- The hotel room tax rose, but there's a sunset date.
The statewide transient accommodations tax rose by 1 percent to 10.25 percent.
The higher tax is in effect through 2030.
The hike was put in place to help fund Oahu's rail project.
Officials say over 13 years, the hotel room tax increase will generate $1.3 billion.
- Registering a car is now more expensive.
The city's vehicle weight tax went up to 6 cents per pound (from a nickel).
That tax rate applies to cars, trucks and noncommercial vehicles that weigh 6,500 pounds or less.
In 2019, the tax is set to increase again -- to 7 cents per pound.
The city said each one-cent increase will raise about $25 million more in revenues for the Highway Fund.
- State tax rates are going up for the wealthy.
While the federal government is cutting taxes, the state is boosting them for some high-income earners.
The higher tax rates apply to those with a taxable income greater than $300,000 or single filers who earn more than $150,000.
For a breakdown on the new tax rates, click here.
While the tax rates are going up for some, there's some good news for low-income earners.
The state now has its own earned income tax credit for low-income workers.
And the minimum wage for Hawaii workers went up to $10.10 on New Year's Day.
About 51,000 Hawaii workers will benefit from the raise, which totals $68.5 million in annual wages across the state, according to the Economic Policy Institute.
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