HomeMy WebLinkAboutCOM 0817.034 2008-2010Murashige, Laura �E& ` J I - Iv/ Clomp!. IVO. 817
From: Linda Vea [Ivea @maunakearesort.net]
Sent: Monday, May 17, 2010 10:54 AM
To: counciltestimony @co.hawaii.hi.us
Subject: Real Property Tax Rates
Attachments: Real Property Tax Rate.PDF
Aloha,
Thank you,
5/18/2010
Page 1 of 1
PkOtal
al.
ine 18 HI
Attached is a letter from the Hapuna Beach Prince Hotel to Chairman Yoshimoto and members of the Hawaii
County Council in regards to the Real Property Tax Rate increase that we would like to submit in the testimony
hearing on our behalf.
Linda Veal Executive Administrative Assistant on behalf of Gary Marushiqe, Controller for Mauna Kea Resort
Hapuna Beach Prince Hotel
62 -100 Kauna'oa Drive I Kohala Coast, HI 96743
Direct: 808.880.3313
Main : 808.880.1111 I Fax: 808.880.3228
Email: Ivea a HapunaBeachPrinceHotel.Com
Website: www.PrinceResortsHawaii.com
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Con i ,lZ. k .
Ref. Dote JUN 0 7 2010
May 15, 2010
RE: Proposed Increase in Real Property Tax Rates
Dear Chairman Yoshimoto and members of the Hawaii County Council;
We have seen the proposed rate increases for the real property tax rates for
Hawaii County. We would like to take this opportunity to urge you to defer these
increases at this time. Although, we realize that the County is facing serious
economic challenges, we would ask that you also consider the equally dark and
dangerous financial situation that the Hawaii County visitor industry is enduring
during this period.
The Mauna Kea Resort owns two historic hotels on the Kohala coast, the Mauna
Kea Beach Hotel and the Hapuna Beach Prince Hotel. Both of our properties
endured a serious financial crisis in 2009 which forced a dramatic downsizing of
our operations. Unfortunately, the situation has not improved this year.
Despite our best marketing efforts, we do not foresee an immediate improvement
to this financial situation. In this dire operating environment, the proposed 9.4%
increase in Hotel and Resort real property rates and the 15.2% increase in
Conservation real property rates would have a devastating impact on our
continued hotel and golf operations which employee over 650 local residents.
Despite what has been published, the assessed values for our two properties
have not decreased over the past two years. Because of this, the increase in the
real property rates will be a straight increase with no offset from lower valuations.
In consideration of the above, we urge you to not increase the real property tax
rates during this time of depression in the visitor industry.
Sincerely,
/G
Gary M rushige
Controller
MAUNA KEA RESORT LLC
m }rte
HAPUNA BEACH PRINCE HOTEL
62 -100 Kauna`oa Drive, Kohala Coast, Hawaii 96743
Telephone (808) 880 -1111 • Fax (808) 880 -3142
MAUNA- KC- -1 RESORT
06
(1AVfvr1 KEA BEACH Ho TEl_
62 -100 Mauna Kea Beach Drive, Kohala Coast, Hawaii 96743
Telephone (808) 882 -7222 • Fax (808) 882 -5700