HomeMy WebLinkAboutCOM 0817.029 2008-2010Murashige, Laura
From: ejacobs06 @comcast.net
Sent: Friday, May 28, 2010 6:44 PM
To: CouncilTestimony @co.hawaii.hi.us
Subject: Tax increase
Elizabeth Jacobs
Landlord in Waikoloa
6/1/2010
kV3. 3301-10 / ct-Aul cv1. NC. � 7
F010 Ji N 1 PFl
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Page 1 of 1
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Such a large tax increase on rental property would only back fire on the County. Owners may
be forced to sell their rentals at a loss. New owners may likely not be landlords, thus not
allowing the county to assess at the rental property level. Also, current landlords would likely
not be able to pay these higher taxes at all and are likely to allow properties to run down.
A tax increase at that level is not commensurate with the level of rent landlords are able to
charge at this time, due to the depressed economy and depressed housing values. Most
landlords have lowered their rents just to keep their tenants and stay in sync with the housing
market. There is no way we can raise rents now and expect to keep our tenants. I have
lowered my rent for the past two years. I know my tenants would move if I raised their rent for
any reason. Many renters have lost their jobs and have lowered incomes. And I can't afford to
fill in the void. Not a good measure. A no -win for everyone including the County.
al 7.
Ref. Tor
Ref. Date JUN 0 7 2