HomeMy WebLinkAboutCOM 0883.001 2022-2024 O,►�Y'9F'�:4
Dr. Holeka Goro Inaba �P �� *., Office: (808) 323-4280
Council Member, Districl 8, N. Kona 4j Entail:holeka.irraba a hmvaiicoiinly.gov
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HAWAII COUNTY COUNCIL
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Kaihra-Kona, Hmvai'i 96740
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DATE: May 29, 2024
TO: Heather L. Kimball, Council Chair
and Members of the Hawaii County Council
FROM: Dr. Holeka Goro Inaba, Council Member
Council District 8 '��
SUBJECT: Submits additional info regarding the proposed 2024 Real Property Tax
Adjustment
2024 Real Property Tax Adjustment
Reducing Total Collections
Approving a reduction of rates for Homeowner and Affordable Rental classes from $6.15 to
$5.75 will reduce total Real Property Tax revenue by ($2,741,239) when compared to the
Mayor's proposed rates of$5.95. This would subsequently reduce fund transfers to the following
fiends which are based on percentages of total RPT collection:
• PONC: ($54,824)
• PONC Maintenance: ($6,853)
• Emergency/Disaster: ($27,412)
Budget amendments for addressing this reduction in total revenue include but are not limited to:
Option 1: Reducing expenses by ($2,741,239) across departments,primarily in Salary
and Wages where positions have and continue to remain unfilled.
Option 2: Applying a mixed approach of both reduction in expenses of($1,969,016) +an
increase in fund balance of$772,223.
Option 3: Covering the entire reduction in revenue by an increase in fund balance by
$2,741,239.
Comm. No. ���• `
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