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<br /> JAMES Y. ARAKAKI ~`~`•~'~"~0% Phone: (808) 961-8272 <br /> Chairman & Presidia O rcer <br /> x ' . . \ Fax: (808) 961-8780 <br /> w <br /> F4 yk.Y~ <br /> sR~~ <br /> COUNTY COUNCIL <br /> County of Hawaii ~~:f~1V~ <br /> Hawaii County Building <br /> 25 Aupuni Street ii~i~.."~-'- ~ <br /> ~ ~ ~M~ <br /> Hilo, Hawaii 96720 ~:>;;;,~c. <br /> s- ` . ~ ~F . r.": ~ . <br /> November 19, 2001 <br /> TO: Council Members <br /> FROM: James Y. Arakaki, <br /> RE: Bill 121, Draft 2 <br /> Minimum Tax <br /> This is to transmit Bill 121, Draft 2, which proposes to establish a minimum tax of $100 except <br /> for three categories of properties which would have a minimum tax of $25: <br /> 1. Those in the I-Iomeowner Class <br /> 2. When assessed market value is less than or equal to $500 <br /> 3. Those receiving a Totally Disabled Veteran Exemption <br /> For the most part, this would address concerns of owners who are on fixed or lower incomes. <br /> Implementation of Draft 2 is estimated to generate $2.1 million, or about $300,000 less than the <br /> administration's proposal in Draft 1. <br /> Att. <br /> 1l ~ <br /> _y <br /> <br />