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means that a $2,500 lot would be taxed at the rate of X40 par $1000 of <br /> assessed value ~ 400% increase in taxes. While lots $10,000 and over <br /> would still only be taxed at ~ 10 per S 1000. <br /> There are almost 10,000 low valued lots in Hawaiian Ocean View estates <br /> alone and another 4,000 plus low valued lots in Nanawale estates. ~e~.1,~3.. <br /> Make an honest assessment of the average cost of county services <br /> consumed by each vacant lot in these subdivisions. You will find it is closer <br /> to zero thin it is to S 100. Vacant land should be excluded. <br /> PART 2 <br /> Yesterday, today and tomorrow there is an ongoing auction of properties <br /> <br /> with delinquent taxes. It's no surprise that over 90°d° of the properties listed <br /> are from two low valued subdivisions Hawaiian Ocean View estates and <br /> Nanawale estates. <br /> Many of these lots have less than $200 in taxes owing but owners are willing <br /> to let them go because there just isn't a market for these substandard lots. <br /> I've talked to a number of people who say that if their tax is raised to ~ 100 <br /> they will let their lot go too. <br /> If dill 121, Graft 3, is passed there will be a great increase in the number of <br /> these substandard lots in the county's inventory. It costs money to <br /> foreclose and the foreclosed lots bring in no tax revenue. <br /> Add interest and ~ 1,294.00 in costs and the upset price is more than most <br /> of these lots are worth. <br /> As a point of interest Are bidders on these properties being informed that <br /> the taxes may be raised to ~ 100? <br /> dill 121, ®raft 3, is unfair and will do more harm than good in the long run. <br /> <br />