White Proposes Stabilizing Real Property Tax Rates in 2014April 29, 2013, 2:43 PM HST · Updated April 30, 6:01 AM 0 Comments
By Maui Now Staff
Council Member Mike White today proposed the stabilization of real property tax rates in fiscal year 2014.
In an announcement today, White said he is recommending that all real property tax rates remain the same as the fiscal year 2013 rates.
White, who chairs the Council’s Budget and Finance Committee, issued a press release saying the proposal was introduced because real property tax assessments have gone up.
According to White, real property tax revenues will increase by $6 million, rather than the $26 million that would have been realized under the mayor’s proposal.
“I believe the ‘extra’ $20 million should be retained by the property owners in our county to cover their own expenses,” he said.
According to his announcement, White said, “I believe the county can live within the means provided by existing real property tax rates and the revenues they would achieve. Stabilizing real property tax rates would allow Maui County’s business community an opportunity to start its own recovery.”
***Supporting information courtesy: County of Maui.