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COUNTY OF HAWAII ORDINANCE NO. STATE OF HAWAII BILL NO. 103 AN ORDINANCE AMENDING CHAPTER 19, ARTICLE 7, SECTION 19-53, OF THE HAWAI°I COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO REAL PROPERTY TAX. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAI`I: SECTION 1. Chapter 19, article 7, section 19-53, of the Hawaii County Code 1983 (2016 Edition, as amended) is amended by amending subsection (g) to read as follows: "(g) Limitation on homeowner assessment. (1) For properties in the homeowner class [as of januaiy 1, 20041, the assessed value of the property shall not increase more than three percent per tax year until the parcel is sold or any portion thereof sold by way of conveyance which is subject to conveyance tax under terms of chapter 247, Hawaii Revised Statutes, at which time the property will be assessed at market value. (22) Notwithstanding anything to the contrary, the assessed value of a property in the homeowner class shall not increase more than three percent per tax y from the most recent assessed value under a nondedicated agricultural use assessment or agricultural dedication, provided that: (A) Every owner on the homeowner exemption application is over the age of sixty-five: (R) The property was assessed under a nondedicated agricultural use assessment or an agricultural dedication for no less than ten consecutive years between the 2012 and 2027 tax years: and (C) A^petition to be considered for the provisions of this para ranh is received by the director in a format prescribed by the director, when the property, prior to the effective date of this ordinance, ceased to be assessed accordingto o its aaricultural use. In addition to the three percent limit of this subsection, any improvements undertaken on the property within the tax year shall be assessed at market value.