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Maui County council targets housing, infrastructure with revenue windfall – Bond Buyer

Maui County reaped a windfall in its fiscal 2023 price range from modifications to its tax construction that it plans To make the most of to counter its housing affordability drawback.

The state accredited a regulation final yr that allowed counties To start out charging An further 3% tax on resorts and lodge rooms, on prime of the state’s 10.25% lodge room tax, which launched in An further $60 million for Maui County. That, mixed with An enhance in taxes on second houses and brief-time period leases and enhanced funding from the state and federal governments, gave this yr’s price range An monumental increase.

The $1.07 billion spending plan for fiscal 2023 accredited by county regulationmakers final week was up 26% from $844 million the prior yr. It’s 2.4% Greater than The quantity proposed by Maui County Mightor Michael Victorino in March.

The Maui County Council price range was greater than the mayor’s As a Outcome of of enhanced spending on pretty priced housing, agriculture, and road resurfacing, Vice-Chair Keani Rawlins-Fernandez said.

Maui County

“The council’s price range is barely Greater than the mayor’s general price range proposal As a Outcome of of enhanced allocations to the Affordable Housing Fund, housing and houseless associated packages, agriculture packages and countywide road resurfacing tasks,” Council Vice-Chair Keani Rawlins-Fernandez said in A press launch.

The county has about 166,000 residents. A Daily common of Greater than 67,000 visitors have been on-island in April, Based …….

Source: https://www.bondbuyer.com/news/maui-county-council-targets-housing-infrastructure-with-revenue-windfall

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