ORD 2024-073 2022-2024 - Laserfiche WebLink

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