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Caldwell's tax targets

The mayor's proposal calls for owners of pricier residences and hotels to pay a higher rate

By Gordon Y.K. Pang

POSTED: 01:30 a.m. HST, Mar 01, 2014

~~<p>Honolulu Mayor Kirk Caldwell wants to raise tax rates on owners of luxury homes and hotel/resort properties to help close a $46 million revenue &quot;gap&quot; and balance a proposed $2.15 billion operating budget for next year.</p>
<p>Other property owners, including all who live in their homes and receive a homeowner's exemption, might not see higher rates, but are likely to see higher tax bills. City officials said a 7.5 percent increase in Oahu property values across all tax categories is projected to generate $62 million more in cash for the city.</p>
~~

Honolulu Mayor Kirk Caldwell wants to raise tax rates on owners of luxury homes and hotel/resort properties to help close a $46 million revenue "gap" and balance a proposed $2.15 billion operating budget for next year.

Other property owners, including all who live in their homes and receive a homeowner's exemption, might not see higher rates, but are likely to see higher tax bills. City officials said a 7.5 percent increase in Oahu property values across all tax categories is projected to generate $62 million more in cash for the city. Login for more...



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