The Maui County Budget, Finance, and Economic Development Committee reconvened on April 27, 2025, to discuss critical financial strategies for the upcoming fiscal years 2025-2027. The meeting, which followed an earlier session on April 25, focused on revenue generation and budget adjustments necessary to meet the county's financial goals.

The committee began by clarifying the target revenue needed, which was set at $29 million. Members discussed various funding sources, including adjustments to the General Excise Tax (GET) surcharge and the water fund. It was noted that $5.5 million in anticipated revenue from the GET surcharge had been redirected to the water fund, impacting the overall budget calculations.

A significant portion of the meeting was dedicated to discussing proposed changes to tax rates for non-owner occupied properties and timeshares. The committee considered raising the third tier rate for non-owner occupied properties to $18, which was projected to generate approximately $21 million. However, there was debate over the implications of these increases, particularly concerning potential appeals from property owners regarding their assessments.

Members also discussed the need to balance tax increases with the economic realities faced by residents. Some committee members expressed concerns about raising taxes on short-term rentals, suggesting that such increases could lead to appeals that might ultimately reduce projected revenues. The discussion highlighted the delicate balance between generating necessary revenue and ensuring fairness for property owners.

As the meeting progressed, various proposals were put forth, including adjustments to the tiers for owner-occupied properties. The committee ultimately aimed to finalize a comprehensive proposal that would meet the revenue target while considering the financial impact on residents.

In conclusion, the committee made strides toward establishing a budget that addresses the county's financial needs while navigating the complexities of property taxation. The discussions underscored the importance of collaboration and careful consideration of the economic landscape as the committee prepares for the upcoming fiscal years. Further follow-up actions and adjustments to the proposed rates are expected as the committee continues its work.