Lawrence Boyd’s commentary (“Amendment necessary to support public schools properly,” Star-Advertiser, Island Voices, Oct. 4), supporting a statewide property tax surcharge for education, contains significant inaccuracies.

His example of notorious Japanese speculator Genshiro Kawamoto’s Kahala land deals proves that sometimes investors lose money. Between 2003 and 2011, Kawamoto purchased 27 Kahala properties for a total of $177 million. He sold them in 2014 for $98 million, a loss of $79 million.

While I have little sympathy for speculators like Kawamoto, the reality is this constitutional amendment would sweep up local renters right along with rich, foreign investors.

An average 4-unit, low-rise in Makiki is worth around $1.5 million dollars, making it subject to the proposed surcharge even if limited as its supporters hope (though there are no guarantees on any limits). The people who live in those units, and whose rents will rise with the surcharge, are often the same underpaid teachers this amendment purports to help. Vote no.

Joseph Perez

Ala Moana

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