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REPORT OF THE <br />COMMITTEE ON FINANCE <br />DATE: October 18, 2022 <br />PLACE: Council Chambers <br />Kailua-Kona, Hawai i <br />TIME: 1:04 p.m. <br />Council Chair and Members <br />Hawaii County Council <br />Hilo, Hawaii 96720 <br />Re: Comm. No. 739/Bill No. 156 <br />Your Committee on Finance, to which was referred Bill No. 156, reports as follows: <br />Bill No. 156, transmitted by Council Member Susan L. K. Lee Loy via Communication No. 739 <br />dated April 13, 2022, amends Chapter 19, Article 7, Section 19-53, of the Hawaii County Code 1983 <br />(2016 edition, as amended), relating to Real Property Tax valuation; considerations in fixing. <br />This bill establishes that the value of property classified as apartment, hotel and resort, commercial, <br />industrial, agricultural or native forests, or conservation cannot be assessed by the County at more than <br />15 percent than the previous year's assessed value for that property. <br />This measure was previously heard and postponed on April 19, May 17, and September 6, 2022. <br />April 19, 2022 Finance Committee Meeting <br />Ms. Lee Loy provided background on the intent of this resolution. Ms. Lee Loy then asked for input <br />from Finance Director Deanna Sako. Ms. Sako provided comments in opposition of this measure, <br />explaining why this bill would not be in the best interest of the County. <br />Committee Member Herbert M. "Tim" Richards III expressed his concerns on this measure, <br />emphasizing the need to limit the volatility of the bill and to think through the whole process before <br />supporting this measure. Ms. Lee Loy responded with appreciation for Mr. Richards and his input to <br />which Mr. Richards extended to Ms. Lee Loy an offer to work with her on this measure going forward. <br />Committee Member Aaron S. Y. Chung offered a suggestion to Ms. Lee Loy on amending the bill to <br />reflect the adoption year as it will not go into effect upon approval as the bill stated. <br />Committee Member Ashley L. Kierkiewicz thanked Ms. Lee Loy for putting this measure forward and <br />applauded Ms. Lee Loy on her willingness to have her colleagues contribute. <br />Both Committee Chair Matt Kaneali`i-KI einfelder and Committee Member Heather L. Kimball asked <br />Ms. Sako questions regarding the language and potential problems the bill could cause. <br />FC Report No.: 220 <br />