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FC -220 Page 2 October 18, 2022 <br />Finance Deputy Director Steven Hunt as well as Real Property Tax Administrator Lisa Miura offered <br />comments in opposition of this measure. <br />Ms. Kimball mentioned the potential to create an ad hoc committee for this measure. <br />A motion to postpone the measure to the May 17, 2022 Finance Committee meeting was made by <br />Ms. Lee Loy, seconded by Mr. Inaba. <br />May 17, 2022 Finance Committee Meeting <br />Mr. Chung commented on his reservations, explaining that he is not supportive of a cap which may <br />unnecessarily restrict the County. <br />Per Mr. Inaba's request, Ms. Sako stated that the main challenge is to distinguish whether a property <br />exceeding the class rate was due to a property owner performing improvements versus the impact of <br />market value. Mr. Inaba then stated that he would not be able to take a position on the measure due to a <br />lack of details. <br />Per Mr. Richards' request, Ms. Sako confirmed that should the measure be passed, if a property exceeds <br />15 percent in a single year, the differential will be incorporated in the following year. Mr. Richards then <br />suggested that a minimum should also be incorporated to accompany the 15 percent limit. <br />Ms. Kimball suggested that the measure be postponed until the appeals results are provided to the <br />members. Ms. Kimball then reiterated previously expressed concerns with a lack of fairness by only <br />targeting certain property classes. <br />Ms. Sako confirmed Mr. Kdneali`i-Kleinfelder's request for a financial statement and stated that the <br />statement will likely be provided prior to First Reading at Council. <br />Ms. Villegas expressed concerns with the impact on West Hawaii. <br />Real Property Tax Administrator Lisa Miura clarified the definition of the apartment class and potential <br />conflicts found in the measure. <br />A motion to postpone the measure to the September 6, 2022 Finance Committee meeting was made by <br />Ms. Lee Loy, seconded by Ms. David. <br />September 6, 2022 Finance Committee Meeting <br />Ms. Lee Loy expressed that her position has not changed on this measure and requested a postponement <br />for the October 18, 2022 committee meeting. <br />Ms. Kimball commented that her opposition has not changed as well and is happy to support the <br />postponement. <br />A motion to postpone the measure to the October 18, 2022 Finance Committee meeting was made by <br />Ms. Lee Loy, seconded by Mr. Richards. <br />FC Report No.: 220 <br />