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,Ntv os y~4'' <br /> <br /> Harty Kim y~,);,. William 'I'akaba <br /> Mmnr Dirrrmr <br /> - Nancy 8. Crawford <br /> sir <br /> t Depulr Olrenor <br /> ~r`o_Ni~ <br /> County of Hawaii <br /> Finance llepartment <br /> ?5 Aupuni Sv~tl, Room I I8 • Hilo, Hmwii 96T_0 <br /> (808) 961-8?3d . Fnx (80%) 961-82-18 0 <br /> n C.J <br /> October 23, 2003 ~ ~ <br /> ZC N T <br /> Honorable James Arakaki, Chairperson and ~ ~ w <br /> Members of the County Council = <br /> Hawaii County Council ~ <br /> 25 Aupuni Su'eet y_, ~ <br /> HiIo,HI96720 <br /> N <br /> Dear Chairman Arakaki: <br /> Enclosed is a Bill for an Ordinance amending Chapter 19, article 7, section 19-53 of the Hawaii <br /> County Code, relating to valuations. <br /> The purpose of this measure is to limit the increase in the market value of properties in [hc <br /> homeowners class to not more than three percent (3%a) per tax year until the property is sold or <br /> otherwise transficrred. <br /> This growth cap is proposed to provide needed relief to residents of the Big Island experiencing <br /> rapidly increasing property values. <br /> Should you have any questions, please contact me. Thank you very much. <br /> Sincerely yours, <br /> William T' faha <br /> Director <br /> APPROVE <br /> arty Kin <br /> Mayor <br /> Enclosure <br /> ~E3~// /7S <br /> Comm. No. <br /> Ref. To: <br /> Ref. Date <br /> <br />