Posts Tagged ‘ Transient Accommodation Tax ’

State GET Revenues Up 2012 Over 2011

October 12, 2012
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State revenues are up, which bode well for the economy’s future.   Since the start of this fiscal year on July 1, 2012, the state has taken in $1.3 Billion in General Excise Tax revenues, which is 10 % more than last year at the same time. GET is collected on almost anything sold in the State, including services, and is an important source of revenue. For Hawaii Island residents, an uptick in state revenues means there is less likelihood  the State Legislature will try  to lessen Hawaii Island’s share of the Transient Accommodation Tax, sometimes…

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Good Budget News: No Property Tax Increase!

March 1, 2012
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Mayor Bill Kenoi released his 2012-2013 budget Thursday, as required by the County Charter.  The budget covers the period from July 1, 2012 through June 30 2013.  In good news for property owners in the County, the proposed balanced budget does not call for any increase in property taxes.   The total budget is $365,293,000, a reduction of just over $2 million from the current budget.   Property taxes, the largest revenue source for the County, are expected to fall by $8.8 million, a reduction of 4.2%, and come in at $198,500,000.  The reduction is due…

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Senator Green Says TAT Safe Next Year (video)

December 22, 2011
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Senator Green Says TAT Safe Next Year (video)

Senator Josh Green, speaking in Kona Thursday night, said the approximately $18 million in Transient Accommodations Tax which Hawaii County has included in its budget, is safe.  In last year’s legislative session, the State Legislature considered keeping those funds in the State coffers—which would have resulted in Hawaii County having to increase taxes and fees or significantly cut its $367 million budget if it lost $18 million. The Transient Accommodation Tax (TAT) is collected on all stays in hotels, condominiums, and bed and breakfasts.  Last year, Mayor Billy Kenoi explained the fund is to help…

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Mayor Kenoi Completes Final Budget

May 4, 2011
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In an exclusive interview, Mayor Kenoi says he has completed work on the final Hawaii County Budget for the fiscal year beginning July 1, 2011.  It is due to the Hawaii County Council no later than Thursday, May 5 at close of business.   The initial budget was submitted March 1.   The biggest issue for the finalized budget was that the State decided to reduce the amount of Transient Accommodation Tax coming to Hawaii County.  It had initially been estimated at $18.6 million, and the final amount is likely to be $17.3 million.  But Kenoi said…

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Mayor to Submit Final Budget Thursday

May 3, 2011
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Mayor to Submit Final Budget Thursday

Hawaii County Mayor Billy Kenoi is due to present his revised budgets to the Hawaii County Council Thursday (May 5) by end of day.  Kenoi presented the initial budget March 1, as required.   But at that time, it wasn’t clear how much revenue would come in from property taxes, nor what the impact might be from the State Legislature’s actions.    The initial operating budget was  $366.1 million, and the initial capital improvement budget was submitted at $177 million.  The budgets are for the fiscal year starting July 1, 2011. Property tax revenues are expected to…

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State Legislature Poised to Reduce Hawaii County Lodging Tax Revenues

May 2, 2011
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The Hawaii State Legislature is poised to reduce the amount of Transient Accommodation Tax  which Hawaii County (and other counties) were expecting.    For the next budget cycle, July 1, 2011 through June 30, 2012, Mayor Billy Kenoi’s budget anticipated around $18.6 million in TAT coming to the county.  If the State Senate’s proposal is passed, Hawaii County would receive around $17.3 million.   The funds are those collected by hotels and other temporary accommodations such as condo or house rentals.  The tax was established in 1986.   Although initially it was proposed to fund the Honolulu Convention…

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