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<br /> Page 6 <br /> The infonnation presented on this exhibit was also taken from the County of <br /> Hawaii CAFR for FY 97 (page 122). The table shows collections for each year <br /> from 1969 and shows the percentage increase in collections for each year over the <br /> preceding year. <br /> For those of you who, like me prefer something more visual, we have prepared a <br /> graph showing these trends. [Attachemnt #6] <br /> From 1987 to 1997 property tax collections have more than doubled. From 42 <br /> million dollars to 86 million dollars or 102%. And this amount includes the <br /> decrease in collections in 1997. According to Dr. Boyd, current economic <br /> predictions are for real property assessments to either stabilize or increase in value <br /> in the next fiscal year. <br /> During this same ten year period, general fund salaries, have gone from 74°rb of <br /> the real property tax revenues in 1987 to 65% in 1996. They rose to 69% i? 1997 <br /> - due to drop in real property tax collections. [t should be noted that the total <br /> County expenditures for 1997 were $169 million [CAFR]. Salaries and wages <br /> were 41 % of that amount. <br /> Property tax projections for FY 1998 are $83,484,500. This is a predicted <br /> decrease of $3,005,157 for FY98. However, it is far more than needed to cover <br /> <br />