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Bill 37 fails to account for inflation so roll with Bill 38 instead

The following testimony was submitted by the Grassroot Institute of Hawaii for consideration by the Honolulu City Council on March 15, 2023.
___________

March 15, 2023
10 a.m.
Honolulu City Council Chambers

To: Honolulu City and County Council
      Tommy Waters, Chair
      Esther Kia‘aina, Vice Chair

From: Grassroot Institute of Hawaii
           Ted Kefalas, Director of Strategic Campaigns

RE: Bill 37 (2022) — RELATING TO REAL PROPERTY TAXATION

Comments Only

Dear Chair and Committee Members:

The Grassroot Institute of Hawaii would like to offer its comments on Bill 37 (2022), which would increase the income eligibility for the real property tax credit from $60,000 to $70,000.

This bill would provide lower-income households additional relief, but would not automatically adjust this relief to account for inflation. As a result, it would give smaller amounts of assistance every year that Honolulu’s cost of living rose.

For this reason, we believe Bill 38 would be a more useful vehicle to lower residents’ property tax burden.

Thank you for the opportunity to testify.

Sincerely,

Ted Kefalas
Director of Strategic Campaigns
Grassroot Institute of Hawaii

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