State tax collections are below Council on Revenue projections this year and lawmakers are looking elsewhere to make up the difference. HPR’s Wayne Yoshioka reports.
Wayne Yoshioka is an award-winning journalist who has worked in television, print and radio in Hawaiʻi. He also has been on both sides of politics as a state departmental appointee and political/government reporter. He covered Hurricane Iwa (1982) as a TV reporter; was the State Department of Defense/Civil Defense spokesperson for Hurricane Iniki (1992); and, commanded a public affairs detachment in Afghanistan (2006). He has a master's degree in Communication from the University of Hawaiʻi at Mānoa and is a decorated combat veteran (Legion of Merit, Bronze Star and 22 other commendation/service medals). He resides in Honolulu.
The Honolulu City Council is considering several measures that would decrease property taxes for seniors, landlords, and homeowners who live on their property. Budget and Fiscal Services Director Andy Kawano was concerned about the lost revenue.
The state Council on Revenues decreased the state’s projected revenue increase this year from 5% to 4.4%. The slight decrease is mostly due to large corporate refunds over the last three months that have outpaced last year’s data.