The following testimony was submitted by the Grassroot Institute of Hawaii for consideration by the Honolulu City and County Council on June 7, 2023.
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June 7, 2023
9 a.m.
Honolulu City Council Chambers
To: Honolulu City and County Council
Councilmember Tommy Waters, Chair
Councilmember Esther Kiaʻāina, Vice Chair
From: Grassroot Institute of Hawaii
Ted Kefalas, Director of Strategic Campaigns
RE: Bill 14 (2023) — 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 14 (2023), which would provide all Oahu homeowners a one-time tax credit of $300.
Because of higher property assessments, property tax collections are projected to increase by more than $212 million in fiscal year 2024. Hawaii residents already pay some of the highest taxes in the entire United States,[1] including income, excise, property and other taxes, so the Council’s efforts to provide property tax relief are greatly appreciated.
Mayor Rick Blangiardi’s proposed one-time $300 property tax credit would apply to more than 150,000 Oahu homeowners, saving them a total of about $45.5 million.[2]
Councilmember Esther Kiaʻāina’s floor draft would increase the value of the credit to $350, which would provide roughly $53.1 million in tax relief. Frankly, the Institute prefers the $350 amount, but ultimately we support either option.
Thank you for the opportunity to testify.
Sincerely,
Ted Kefalas
Director of Strategic Campaigns
Grassroot Institute of Hawaii
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[1] Merrilee Gasser, “Hawaii taxpayers shell out more than $5,500 in state and local taxes,” The Center Square, March 29, 2023.
[2] “City unveils $3.4B budget that includes property tax relief plan,” Hawaii News Now, March 3, 2023.
