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• <br /> • <br /> limit of this subsection, any improvements undertaken on the property <br /> within the tax year shall be assessed at market value. All parcels entering <br /> this class after January 1, 2008, shall have the assessed value as of January 1 <br /> of the following year and be subject to the above provisions." <br /> SECTION 2. Material to be repealed is bracketed and stricken. New material is <br /> underscored. In printing this ordinance, the brackets, bracketed and stricken material, and <br /> underscoring need not be included. <br /> SECTION 3. Severability. If any provision of this ordinance, or the application thereof <br /> to any person or circumstance, is held invalid, the invalidity does not affect other provisions or <br /> applications of the ordinance which can be given effect without the invalid provision or <br /> application, and to this end the provisions of this ordinance are severable. <br /> SECTION 4. This ordinance shall take effect on January 1, 2027. <br /> • INTRODJJCED BY: <br /> . <br /> COUNCIL , COUNTY OF HAWAI'I <br /> • <br /> , Hawai'i <br /> Date of Introduction: <br /> Date of 1st Reading: <br /> Date of 2nd Reading: <br /> • <br /> • Effective Date: • <br /> . REFERENCE Comm. 904 <br />