On Wednesday, June 7, the Honolulu City Council agenda will include budget bills for the 2017/2018 fiscal year including the executive, legislative and capital improvement budgets. Critical to passing the budget is the approval of the 2017/2018 property tax rates to pay for increased services and other expenses.
Resolution 17-70 relating to real property taxes sets the property tax rates and establishes the new Residential A rates of $4.50 for the first $1 million of assessed value, followed by $9.00 for property valued over $1 million. The resolution is expected to pass. New bills will also be introduced to establish new real property tax classes including Transient Vacation Rentals and Beds and Breakfasts and provide real property tax relief to low income property owners.
A number of other measures will be debated by City Council including bills to regulate plastic bags, increase the motor vehicle weight tax, Honolulu Zoo admission fees, parking meter increases and even an increase in the fees for the Handivan.
