Honolulu Mayor Kirk Caldwell announced his plan to balance the budget for the upcoming fiscal year Friday.
In his presentation, Caldwell outlined five new potential revenue sources that would bring in an estimated $46 million to balance the city’s operating budget:
1. Increase the property tax rate for non-homeowner exempt homes valued at $1 million or more.
2. Increase the property tax rate for all hotels and resort properties.
3. Put ads on the sides of city buses.
4. Charge for trash pickup.
5. Increase existing building plan review fees or add new ones.
“It’s about improving efficiencies in our budget process and that’s where it’s different than ever before,” Caldwell said.
The mayor also emphasized cost-containment measures, like zero-based budgeting, operational streamlining and improvement, the deactivation of 618 positions and a 25 percent cut in funds for vacant positions.
Caldwell also talked about his priorities for the new fiscal year, which include fixing roads, sewers and parks.