HomeMy WebLinkAboutCOM 0817.042 2008-2010May 27, 2010
Aloha,
tilA FIB/ 27 Pal ti 115
This is an open letter to the Hawaii County Council concerning the S ecial Meeting
t; scheduled for June 7, 2010, for final reading of the 2010 -2011 Bugg Sar Posa.l: -1
Budget Proposal as presented by the Mayor contains significant property tax increases
for residences on Agricultural Land and non -owner occupied residences. These tax
increases are designed to raise revenue for the County during tough economic times
because the size and cost of the current County Government greatly exceeds the
County's current income.
As President of the Kona Board of REALTORS ®, I represent approximately 500
Professional REALTORS!.? who in turn represent hundreds of thousands of clients who
have purchased or plan to purchase property in the County of Hawaii. Many of those
clients are your constituents while many others are not Hawaii residents. Yet all are
interested parties to the tax decisions you will be making and all will be harmed by the
proposed increases. I urge you on behalf of the Kona Board of REALTORS® and the
clients we represent to reject these proposed tax increases and to move instead to
reduce the size and cost of County Government.
I°
REALTOR
DES. 33C1-101 817
Now is not the time to raise property taxes. The entire County is feeling the effects of
the economic recession which has gone on far too long and is projected to continue for
months to come. Just like the rest of America, many Hawaii County property owners
are losing money on their investments and watch helplessly as their equity and financial
stability disappear. They are caught in a situation where there are no buyers for their
property and they cannot afford to continue negative cash flow situations. Tax
increases of the magnitude proposed will certainly force these owners to lose their
vacation property, second home, long term rental, farm or commercial property to
bankruptcy or foreclosure. Each failed property further exacerbates the problem by
increasing the reluctance of future investors to bring capital to Hawaii County. It is a
terrible cycle: decreased ability to pay plus higher taxes leads to failed ownership,
leading to abandoned and unmarketable properties, leading to diminished property
investments, and resulting in less revenue for the County.
The County must begin to exercise its responsibility to reduce the size and cost of
Government and refuse to raise property taxes. You owe it to both the resident owners
and non - resident owners of property on this Island. Mahalo for your consideration.
Gbarlie Parry, Realtor Broker
President, Kona Board of REALTORS®
74 -562o Palani Court Suite 106 — Kailua Kona, Hawaii 96740
Phone: 808 -329 -4874 — Fax: 80 - 3 - 5 1 9 1 — Email: KBR@KonaREALTORS.com
Website: www.KonaREALTORS.com
JCouwcit
2010 Board of Directors
President
Charlie Parry
Past President
Alan Livingston
President - Elect
Katie Minkus
Vice President
Robert Ferrari
Secretary
Elle Philips
Treasurer
Gretchen Lambeth
Treasurer -Elect
Michele McKinley
Directors:
Ken Anderson
Andy Archibald
Jenni Lee
Rollie Litteral
Savannah Scott
Joyce Murphy
Education Director
Rollie Litteral
Executive Officer
Laura Harlak
Executive Assistant
Joy Baldado
CO0144. 1 f1 7. ( Z
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Ref. Date JUN 0 7 2 011T