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aN�v ar,H� <br />Ile <br />COUNTY OF HAWAI`I •_ <br />oF'N�'�* <br />ORDINANCE NO. <br />STATE OF HAWAI I <br />BILL NO. 103 <br />(DRAFT 3) <br />AN ORDINANCE AMENDING CHAPTER 19, ARTICLE 7, SECTION 19-53, OF THE <br />HAWAI`I COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO <br />REAL PROPERTY TAX, <br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAVI: <br />SECTION 1. Chapter 19, article 7, section 19-53, of the Hawaii County Code 1983 <br />(2016 Edition, as amended) is amended by amending subsection (g) to read as follows: <br />"(g) Limitation on homeowner assessment. <br />For properties in the homeowner class as of r.,.,,.ary 1, 2004], the assessed <br />value of the property shall not increase more than three percent per tax year <br />until the parcel is sold or any portion thereof sold by way of conveyance <br />which is subject to conveyance tax under terms of chapter 247, Hawaii <br />Revised Statutes, at which time the property will be assessed at market <br />value. <br />Notwithstanding al ty hing to the contralti, the assessed value of a property in <br />the homeowner class shall not increase more than three percent per tax year <br />from the most recent assessed value under a nondedicated agricultural use <br />assessment or agricultural dedication, provided that: <br />(A) The property receives a homeowner exemption in the amount no less <br />than that which a taxpayer sixty-five years of age or over is entitled <br />under section 19-71(d); <br />(B) The property was assessed accordingto o its agricultural use value for <br />no less than ten tax years within the fifteen tax years immediately <br />preceding the first tax year that the property satisfies the requirement <br />set forth in subparagraph (A), and <br />(C) A petition to be considered for the provisions of this paragraph is <br />received by the director in a format prescribed by the director, in the <br />case of a property that, prior to the effective date of this ordinance, <br />ceased to be assessed accordingto o its agricultural use. <br />In addition to the three percent limit of this subsection any improvements <br />undertaken on the property within the tax year shall be assessed at market <br />value. <br />