Some Of Honolulu’s Million Dollar Homes Will See Higher Taxes

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Million dollars homes can now be taxed more under a revenue-generating bill passed by the Honolulu City Council on Wednesday.

Assuming Mayor Kirk Caldwell signs the bill into law, the city will be able to increase the taxes on certain homes worth more than $1 million, but only if the owners don’t live in the houses.

It’s estimated this could raises millions of dollars in new revenue for Honolulu, which is projecting a $156 million deficit next year.

The measure was one of 10 bills the Caldwell administration introduced as a way to increase tax revenue.

The council passed the bill 8-1, with Council Member Joey Manahan in opposition.

Photo via Flickr courtesy of jdnx.

—Nick Grube

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