Recent Rail Tax Revenues a Pleasant Surprise for City07/21/2011
The rail tax numbers are in, and the city's optimism might actually be warranted this time.
In fact, one could even argue that the press release announcing the figures is a little understated.
When Civil Beat looked at the city's last financial plan, we determined that its projections for tax revenues were optimistic; that Mayor Peter Carlisle's statement that the city was 99 percent on track was misleading; and that the city was looking at the numbers through rose-colored glasses.
But a new financial plan published in April gave Honolulu Hale and its financial team another crack in the economic predictions game. This time, they took a more conservative approach.