HomeMy WebLinkAboutCOM 0675.055 2022-2024 From: James Hobbs
Sent: Monday, January 22, 2024 11:08 AM
To: Council Testimony Q°
Subject: Bill 121
T tom,
To the Hawaii County Counsel, F:..
-77
Regarding Bill 121, I'd like to briefly explain how this bill will impact me and Hawaii. I own three " ``
properties.Two are full time STVRs"and one is a second residence. The elimination of the STO option
will mean I have no viable way to keep the property, because the reality is that the income from tourists
greatly exceeds the income from permanent residents.
These properties will be sold and Hawaii will immediately lose out on the$66,000 I pay in GE and TAT
taxes. I am also a non resident of the State which means I pay an enormous premium in property taxes,
$121,000 in 2022.Assuming a permanent resident buys the property, that tax will be reduced
considerably.
On top of that I have a property manager whose sole income is derived from the six units she manages.
She has been a resident of the State for decades. Her income will be eliminated in full, as will much of
the income of the several subcontractors who help her take care of cleaning and maintenance.
I just don't understand why you are doing this. My home might become more affordable, but not to the
people you are seeking to help.They are appraised for tax purposes in excess of four million dollars each,
and rent for in excess of$30,000.The people who can afford this are extremely wealthy. I recognize that I
don't need help, but neither do these people.
The real people this impacts are tourists who scrimp and save for a vacation, and the people who serve
them.This bill will only make resorts more expensive and resort developers more determined to build. It
will not help Hawaiian residents or the County and State governments. It won't help tourists. I just don't
know who it would really help except the neighbors of irresponsible STVR operators.
In my humble opinion,the focus here should be on how STVRs can be better regulated.The provisions
that have been implemented in the past few years have gone a long way in the right direction. I urge you
to not to push this bill forward.
Respectfully,
James Hobbs
Comm. No. 15. 5 5
Ref. To: )
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Ref. Date JAN 2 3 2024