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4.OJNtv.os N,� <br /> . cam 44 <br /> COUNTY OF HAWAII •��`,�'=�'' :• STATE OF HAWAII <br /> ;•o ---deµ .; <br /> JUTE GI•Njd�_ <br /> BILL NO. 161 <br /> ORDINANCE NO. <br /> AN ORDINANCE AMENDING CHAPTER 19, ARTICLE 11, SECTION 19-90 OF THE <br /> HAWAII COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO <br /> REAL PROPERTY TAXES. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. Chapter 19, article 11, section 19-90, of the Hawai`i County Code 1983 <br /> (2016 Edition, as amended), is amended by amending subsection(f) to read as follows: <br /> "(f) Residential tax rate tiers. <br /> (1) Notwithstanding any provision to the contrary,the council shall establish a <br /> separate tax rate each for the residential tier one property and residential tier <br /> two property, as defined below. The tax rates shall be applied as follows: <br /> (A) The tax rate established for the residential tier one property shall be <br /> applied to the net taxable real property value under $2,000,000. <br /> (B) The tax rate established for the residential tier two property shall be. <br /> applied to the net taxable real property value of$2,000,000 or more. <br /> (2) For the purposes of this section, "residential tier one property" shall mean all <br /> property, or portions thereof, other than a residential tier two property, within <br /> the residential class. "Residential tier two property" shall mean a property, or <br /> portion thereof, which: <br /> (A) Is improved with one or more dwelling units, has a net taxable real <br /> property value of$2,000,000 or more, does not have a home exemption, <br /> and is classified as residential in consideration of the highest and best <br /> use of the land; <br /> (B) Is vacant land that has a net taxable real property value of$2,000,000 or <br /> more, and is classified as residential in consideration of the highest and <br /> best use of the land; or <br /> (C) Is a condominium property regime that has a net taxable real property <br /> value of$2,000,000 or more, does not have a home exemption, and is <br /> classified as residential in consideration of the highest and best use of <br /> the land. <br /> (3) The respective tax rate to be applied to any property within the residential <br /> class shall be applied only to the portion used exclusively as residential, <br /> provided the highest and best use of the land is residential. <br /> (4) No less than seventy-five percent of the revenue collected annually pursuant <br /> to this subsection, calculated as the difference in revenue from the residential <br /> tier one property tax rate to the residential tier two property tax rate, shall be <br />