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<br /> °'°°`,'`q, CITY COUNCIL ORDINANCE <br /> I • CITY AND COUNTY OF HONOLULU <br /> _ HONOLULU, HAWAII BILL 49_(2004-CD1, FD2_ <br /> DDC 9/21/04 <br /> A BILL FOR AN ORDINANCE <br /> "Unusable land" means that portion of the lands dedicated for a specific <br /> agricultural use that the director determines to be unsuitable for the dedicated <br /> agricultural use. <br /> (b) Lands for which the director has approved a petition for dedication for a specific <br /> agricultural use for a period of one year five years or 10 years shall be classified_ <br /> and assessed for real property tax purposes at a percentage of the land's fair_ <br /> market value as established in subdivision (2) and shall be sublect to the <br /> following <br /> The land dedicated must be substantially and continuously used for the <br /> business of raising and producing agricultural products in their natural <br /> state. <br /> (2) Dedicated land shall be assessed as follows• <br /> For land dedicated for a period of one year the land shall be <br /> assessed at five percent of its fair market value <br /> ~B) For land dedicated for a period of five years the land shall_be <br /> assessed at three percent of its fair market value <br /> For land dedicated for a period of 10 years the land shall be_ <br /> assessed at one percent of its fair market value i <br /> (D) For land dedicated for a pasture use for a period of one five or 10 <br /> years, the land shall be assessed at one percent of its fair market <br /> value. <br /> {3) The land dedicated shall be substantially and continuously in a use <br /> specified under subdivision (1) for the duration of the dedication period. <br /> Notwithstanding the provisions of subsection (b) in the event the highest per <br /> acre calculation for lands dedicated for five years under subsection (b)(2)(B~ <br /> based on the mmlmum lot size as designated in the chapter 21 for lands located <br /> in agricultural districts exceeds the average agricultural production value~er acre <br /> for the county for vegetables and melon crops, and fruits excluding inea pleas <br /> determined annually by the director then the percent of market value for five <br /> year dedications set forth in subsection (b)(2)(B) shall be changed so as not to <br /> exceed the average agricultural production value per acre for such crows The <br /> percent of market value for one year dedications set forth in subsectionL~~(A)_ <br /> shall also be changed to not exceed the percent of market value for five~ear <br /> <br />