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| Hilo, Hawaii News, Sports, & Information |
Thursday, September 2, 2010 |
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Posted: Tuesday, November 17th, 2009 4:45 AM HST
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Honolulu transit tax receipts drop 30 percent
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HONOLULU (AP) — Receipts from the Honolulu transit tax designed to pay the city's planned rail line fell 30 percent in October from a year earlier to $8.9 million.
Tax collections have dropped amid declining visitor arrivals and rising unemployment.
This has depressed tax revenues needed to build Honolulu's planned 20-mile train from East Kapolei to Ala Moana.
Earlier this year, city officials sharply lowered transit tax collection forecasts from $16.5 million a month to $13.7 million a month.
The revenues result from a half-percentage-point surcharge added to the general excise tax in Honolulu in January 2007.
(Copyright 2009 Associated Press. All rights reserved)
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