Laserfiche WebLink
income and cost approaches to value using appropriate systematic methods suitable <br />for mass valuation of properties for taxation purposes, so selected and applied to <br />obtain, as far as possible, uniform and equalized assessments throughout the <br />County. In making such determination and assessment, the director shall separately <br />value and assess within each class established in accordance with subsection (e) of <br />this section: <br />(1) Buildings. <br />In determining the value of buildings, consideration shall be given to any <br />additions, alterations, remodeling, modifications or other new construction, <br />improvement or repair work undertaken upon or made to existing buildings as <br />the same may result in higher assessable valuation of said buildings. <br />(2) All other real property, exclusive of buildings. <br />Exception. The value of land classified and used for agriculture as determined <br />pursuant to section 19-57 [of], 19-57.1, 19-59, 19-60, or 19-61 shall be the <br />value of such land for such agricultural use without regard to any value that <br />such land might have for other purposes or uses. The director shall update the <br />agricultural use values at least every five years and shall consult with <br />agriculturalists and/or experts in the field when making such determination. <br />The establishment of the agricultural use rate values shall be made in <br />accordance with chapter 91, Hawai`i Revised Statutes. <br />(3) Real property leased and located within the Waikoloa Workforce Housing <br />project shall be valued under this chapter based on comparison with like <br />properties within the same project." <br />SECTION 4. Chapter 19, article 7, section 19-53, of the Hawaii County Code 1983 <br />(2016 Edition, as amended), is amended by amending subsection (e) to read as follows: <br />"(e) Classification of land: <br />(1) Except as otherwise provided in subsection (e)(2) of this section, land shall be <br />classified, upon consideration of its highest and best use, into the following <br />general classes: <br />(A) Residential; <br />(B) Affordable rental housing; <br />(C) Apartment; <br />(D) Hotel and resort; <br />(E) Commercial; <br />(F) Industrial; <br />(G) Agricultural or native forests; <br />(H) Conservation; and <br />(I) Homeowner. <br />(2) In assigning land to one of the general classes the director of finance shall <br />give major consideration to the districting established by the land use <br />commission pursuant to chapter 205, Hawaii Revised Statutes, the districting <br />established by the County in its general plan and zoning ordinance, use <br />classifications established in the general plan of the State, and such other <br />2 <br />