The Hawaiian gazette., 1916-05-23
FINANCIAL STRESS
MAY Be Relieved
Increase In Tax Values Promises
To Give Municipality Funds
In Near Future

The estimated assessed value OF the
real and personal property of Honolulu,
as stated by Tax Assessor Charles T.
Wilder has brought joy TO the hearts
of the supervisors and they hope the
estimate will be realized. With taxes
being paid on real and personal prop
erty at rate of $12,730 on million
valuation, raise in value of eight mil.
lions will mean thnt the city treasury
will get this year 100000 more than
the figures on which the rate was based,
or 100000, instead Of $500, 900, the
basic figure. 1'e fa,eg.t- d
for this year Is tax as announced early
in the year, there was TO, have been
raised in the city from the real and
personal property tax for all purposes,
both municipal and territorial, the total
sum Of 81, 45,577sS8. e.. -.
Increase Benefits City
OF this the Territory gets definite
amounts, aggregating $545, 564.82. with
the raise in the value the city gets the
benefit Of the increase and the total
sum which should be collected on a
ninety eight million assessment win be
1924, 900. The amount for the Terri.
tory will remain the same, but the diff.
ference, or increase, will come to the
city. VI.
BY the end Of the present period II
is estimated that the city will be en-.
riched in the sum Of about $3.50, 900
from the taxes on real and personal
property. OF this, one-qnarter is set
aside by law for the permanent i'm.
prOvement fund and the balance goes
for general purposes. d.. ?. .lrJr.T
On a ninety-eight million valuation
the city win have to set aside for the
cash basis fund this year. $40 900.
which will make total Of $l57, 900, in
this fund in the coming December.
What Fund Must Contain
When the present board went into
Office there was but $64 900 in the cash
basis fund. The difference has been de-
Quoted from the income Of the city re-
ceipts in the last year and half From
the time the cash basis law went into
effect to December 81, 1914, the pre-.
viOus boards had only to set aside $64,-
600; in the last year and a half the
present board has had to set aside $6S,
600. At the end of next month there
will be in actual cash in this fund
$4,000, while at the end of the term
Of the present board there will have TO
be left to its SUCCESSORS the sum of ap-
proximately $4,000 actual cash.
The property taxes collected for the
present six months will be divided as
follows: .-.,'Iyi
For new buildings, repairs and main.
tenanee, janitors' services and supplies
for the schools, $4O,550; for teaehers
salaries, $l6l 600; for the general
school fund (territoriaT, $35,500; for
assessing and collecting taxes and tax
books, $2l 900; for interest and sink
ing fund on bonds issued in behalf Of
the county by the Territory about ST..
600; total Of approximately $275,0O0
Road Taxes About S75, 900
Besides the taxes mentioned above
there will be turned over to the city
about $4,000 in road taxes, the balance
of the collections made since the last
payment to the city, the poll, dog and
all delinquent taxes collected since the
last settlement.
The banks have at present $230,000
Of the city's paper and this will be re-
deemed as soon as the money becomes
available from the Territory. Some
money from the taxes collected has al.
ready been turned over to the Terri
tory to tide it over n shortage, but thus
far the city has not received any Of the
general tax collected this month. This
will be turned into the city treasury
by the end of the present month and
then the claims Of the banks against
the city treasury will be hnnidated.