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i <br /> i <br /> D. METHOD OF APPORTIONMENT OF THE SPECIAL TAX <br /> 1. Tax Zone 1 <br /> I <br /> Each Fiscal Year, beginning with Fiscal Year 2021-22, the CFD Administrator <br /> shall determine the Tax Zone I Special Tax Requirement for that Fiscal Year and <br /> levy the Special Tax on all TMK Parcels of Taxable Property in Tax Zone I as <br /> follows: <br /> Step 1: If needed to satisfy the Tax Zone 1 Special Tax Requirement, but <br /> not accounting for Capitalized Interest, the Special Tax shall be <br /> levied Proportionately on each TMK Parcel of Developed Property <br /> in Tax Zone 1 up to 100% of the applicable Assigned Special Tax. <br /> i <br /> Step 2: If additional monies are needed to satisfy the Tax Zone 1 Special <br /> Tax Requirement after Step I has been completed, and after <br /> applying Capitalized Interest, then the Special Tax shall be levied <br /> Proportionately on each TMK Parcel of Final Mapped Property in <br /> Tax Zone I up to 100% of the Maximum Special Tax for Final <br /> Mapped Property in Tax Zone 1. <br /> Step 3: If additional monies are needed to satisfy the Tax Zone 1 Special <br /> Tax Requirement after the first two steps have been completed, <br /> then the Special Tax shall be levied Proportionately on each TMK <br /> Parcel of Undeveloped Property in Tax Zone 1 up to 100% of the <br /> Maximum Special Tax for Undeveloped Property in Tax Zone 1. <br /> Step 4: If additional monies are needed to satisfy the Tax Zone 1 Special <br /> Tax Requirement after the first three steps have been completed, C <br /> then the levy of the Special Tax on each TMK Parcel of Developed <br /> Property in Tax Zone 1 whose Maximum Special Tax is <br /> determined through the application of the Backup Special Tax <br /> shall be increased Proportionately from the Assigned Special Tax <br /> up to the Maximum Special Tax for each such TMK Parcel until <br /> the amount levied is equal to the Tax Zone 1 Special Tax <br /> Requirement. <br /> Step S: If additional monies are needed to satisfy the Tax Zone 1 Special <br /> Tax Requirement after the first four steps have been completed, <br /> then the Special Tax shall be levied Proportionately on each TMK <br /> Parcel of Taxable Property Owner Association Property in Tax <br /> Zone 1 up to the Maximum Special Tax for Taxable Property <br /> Owner Association Property in Tax Zone 1. <br /> Notwithstanding the above, under no circumstances shall the Special Tax levied <br /> in any Fiscal Year on any TMK Parcel of Single Family Property or Other <br /> Hawai'i County CFD No. 1-2021 12 .Tune 23,2021 <br /> i <br /> I <br /> i <br />