BIL 175 Draft 04 2002-2004 - Laserfiche WebLink

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(b) So far as practicable, records shall be compiled and kept which shall show the methods established by or under the authority of the director, for the determination of values. (c) Whenever land has been divided into lots or parcels as provided by law, each such lot or parcel shall be separately assessed. (d) When a condominium property regime is declared for a property, each unit shall be classified upon consideration of its actual use into one of the general classes in the same manner as land. (e) Classification of land: (1) Except as otherwise provided in subsection (e)(2) of this section, land shall be classified, upon consideration of its highest and best use, into the following general classes: (A) Improved residential, (B) Unimproved residential, (C) Apartment, (D) Hotel and resort, (E) Commercial, (F) Industrial, (G) Agricultural or native forests, (H) Conservation, and (I) Homeowner. (2) In assigning land to one of the general classes the director of finance shall give major consideration to the districting established by the land use commission pursuant to chapter 205, Hawaii Revised Statutes, the districting established by the County in its general plan and zoning ordinance, use classifications established in the general plan of the State, and such other factors which influence highest and best use, except that parcels which are used exclusively as the owner's principal residence shall be classified as "Homeowner" without regard to the highest and best use, provided that the director has granted to the owner a home exemption in accordance with sections 19-71 to 19-72. (A) The homeowner class is exclusively reserved for properties which are used as the owner's principal residence. Uses which shall not qualify as "Homeowner" include: (i) Real property which is valued according to its agricultural use pursuant to subsection 19-53(fl(1). (ii) Real property which is dedicated to an agricultural use or native forest use. 2