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•.;`tYOFy--�` <br /> Aaron S. Y. Chung (•?.. <br /> •?•1,� q�,''.1. Phone No.: (808)961-8272 <br /> Council Member ,��,�k�'''', Fax No.: (808)961-8912 <br /> ;' �` 'fir aaron.chung@hawaiicounty.gov <br /> District 2 South Hilo ' :* ' <br /> 1,1', :4;.• OF.1a...°141,-,-- <br /> ,,,, 1' `` <br /> HA WAI I COUNTY COUNCIL <br /> County of Hawai'1 <br /> Hawai`i County Building <br /> 25 Aupuni Street = <br /> Hilo,Hawai`i 96720 -4 <br /> W <br /> .... sir <br /> �. <br /> To: Maile Medeiros David, Council Chair r— <br /> and Members of the Hawaii County Council t <br /> From: flAaron S. Y. Chung, Council Member <br /> Date: January 31, 2022 <br /> Re: Proposed Amendments to Bill No. 111; an Ordinance Amending Chapter 19, <br /> Article 11, Section 19-90, of the Hawai`i County Code 1983 (2016 Edition, as <br /> Amended), Relating to Real Property Taxes <br /> Please see below proposed amendments to Bill No. 111. The proposed amendments would <br /> amend paragraph(4) of subsection(f) relating to residential tier two property tax. The proposed <br /> amendment is shown in Ramseyer format with respect to the contents of Bill No. 111; material to <br /> be deleted is bracketed and stricken, and material to be added is underscored. <br /> SECTION 1 of Bill No. 111 is amended to read as follows: <br /> "(f) Residential tax rate tiers. <br /> (1) Notwithstanding any provision to the contrary,the council shall <br /> establish a separate tax rate each for the residential tier one property <br /> and residential tier two property, as defined below. The tax rates shall <br /> be applied as follows: <br /> (A) The tax rate established for the residential tier one property shall <br /> be applied to the net taxable real property value under <br /> $2,000,000. <br /> (B) The tax rate established for the residential tier two property shall <br /> be applied to the net taxable real property value of$2,000,000 or <br /> more. <br /> (2) For the purposes of this section, "residential tier one property" shall <br /> mean all property, or portions thereof, other than a residential tier two <br /> property, within the residential class. "Residential tier two property" <br /> shall mean a property, or portion thereof, which: <br /> (A) Is improved with one or more dwelling units, has a net taxable <br /> real property value of$2,000,000 or more, does not have a home <br /> , exemption, and is classified as residential in consideration of,the highest and best use of the land; Comm. o. 5$9►• <br /> Ref. To: 11 I F e• <br /> Ref. mote Alit l aoaa <br /> Hawai`i County Is An Equal Opportunity Provider And Employer <br />