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COUNTY OF HAWAII : STATE OF HAWAII <br /> BILL NO. 174 <br /> ORDINANCE NO. <br /> AN ORDINANCE AMENDING CHAPTER 19 OF THE HAWAII COUNTY CODE 1983 <br /> (1995 EDITION), REAL PROPERTY TAXES, RELATING TO HOME EXEMPTIONS. <br /> BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: <br /> SECTION 1. The purpose of this measure is to amend section 19-71, home exemptions, <br /> <br /> by creating an additional exemption of 20% of the pre-exemption assessed value to a maximum <br /> of $80,000 for those eligible for homeowners exemption. <br /> SECTION 2. Chapter 19, article 10, section 19-71, of the Hawaii County Code 1983 <br /> (1995 edition), is amended to read as follows <br /> Section 19-71. Homes. <br /> (a) Real property owned and occupied as a principal home as of the date of assessment shall <br /> be exempt to the following extent from property taxes: <br /> (1) Totally exempt where the value of the property is not in excess of $40,000; <br /> (2) Where the value of the property is in excess of $40,000, the exemption shall be <br /> the amount of 40,000. <br /> Provided: <br /> (A) That no such exemption shall be allowed to any corporation, <br /> co-partnership, or company; <br /> (B) That the exemption shall not be allowed on more than one home for any <br /> one taxpayer; <br /> (C) That where the taxpayer has acquired his or her home by a deed made on <br /> or after July 1, 1951, the deed shall have been recorded on or before <br /> <br />