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Page 2 of'-) <br />There world he questions, such as, would the "unpaid" portions of the tax bill be subject to accrued <br />interest? I would think so, at the lowest rate possible. And could taxpayers be influenced to pay the <br />higher amount, or somewhere in between, if they are well able to? <br />There is still a question in my mind about inherited property. Would it be treated as a continuation of <br />ownership or as a solo? I'm not sure. If the social goal is to keep family farms going or to allow children <br />already living on the property to retrain, it would best be treated as a continuation. <br />Under this system is it conceivable that the tax owed upon sale would become a significant part of the <br />proceeds'? It does not seem likely. The size of the tax accrual would depend on the amount the value <br />inflates. 1 cannot say with assurance. However, if my present tax breaks of about $500 annually were to <br />continue for some 20 years, l would owe the County $10,000 if I sold my property at that point. Since <br />the property would sell today for over $500,000, this does not seem like a significant figure. <br />Of course, another and simpler solution would be to place a tax on accrued value when a property sells. I <br />"Ice that idea, but suspect that at the present time state law would not allow it. <br />I do think overall that property taxes here are pretty reasonable, compared with other states, though they <br />don't include the education portion found elsewhere. And there is no doubt that we have an <br />infrastructure deficit in Kona. However, I believe that all residents benefit from county services, <br />whether social or highway or water or emergency. What we personally are paying now (around <br />$1400/yr) seems fair in terms of our use of services. I say this, though we live on a rather modest <br />pension. It seems to me that too many people feel no need to pay their fair share if they can possibly <br />avoid it. <br />Now, if you were to ask me if more of those tax dollars should be spent in West Hawaii, I'd M -c - to say: <br />yes, absolutely. <br />I hope this information is helpful. <br />11/5/03 <br />E0 39Vd OON L6999ZE ZE:bT E00Z/0Z/TT <br />