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Richard Onishi <br /> March 20, 2017 <br /> Page 2 <br /> removed the cap on the share of TAT going to the counties, giving us collectively 45% <br /> after several deductions. It recognized that without TAT, the counties would be forced to <br /> raise property taxes and/or reduce services to levels that most would find unacceptable. <br /> Many may not realize how important the TAT is to the County of Hawaii (and to <br /> the other counties). It is, in fact, Hawaii County's second largest source of revenue, <br /> behind only the property tax. Unless we continue to receive a reasonable share of the <br /> TAT, we will be pressed to raise property taxes about $19M (5.1% of our total budget), <br /> and that would worsen the pressures on the portion of the population that is currently <br /> managing a paycheck-to-paycheck financial existence. It would hurt a major part of our <br /> population, affecting renters and homeowners alike. Property taxes, after all, are not <br /> simply absorbed by a landlord; they are passed on, in whole or in part, to a tenant. <br /> The chart below reflects how small a portion of the TAT comes to Hawaii County, <br /> and how the percentage has shrunk over the years. <br /> While SB 1290, SD2 is preferable to no action, please help us help our fellow <br /> constituents by deleting the current language and substituting SB 1290, SD1. <br /> TAT — Total vs. Hawaii County Portion <br /> 5:0,003,0 O0 25.00% <br /> 400,000,000 20.00% <br /> 300,000,000 15 00% <br /> 200,000,000 A I • I 10.00% <br /> 100,000,000 5.00% <br /> .. .�» «. .. �, .. <br /> 0 ~' f. .. 0.00°0 <br /> �A(o A� ,` 4i 5:p No otiti Nt� a~`' �tiv ti� 4 <br /> min TOTAL TAT NM Have ai'iCounty HI County%of total <br /> Re pectfully submitted, <br /> Harry Kim <br /> Mayor <br /> County of Hawaii is an Equal Opportunity Provider and Employer. <br />