COM 0118.028 2002-2004 - Laserfiche WebLink

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CITY COUNCIL ORDINANCE I " CITY AND COUNTY OF HONOLULU HONOLULU, HAWAII BILL. _49 _~2004~1 CD1, FD2 DDC 9/21/04 A BILL FOR AN ORDINANCE report in a timely manner or that the required report must be rejected the owne_r_ shall be notified of the finding and the owner shall have 60 days to address t_he_ finding. In the event the owner fails to satisfactorily address the finding the dedication shall be canceled and the propertv owner shall be subject to a rollback tax and penalty. The rollback tax shall be the difference between the taxes owed for the land at 100 percent of the land's assessed value at fair market value and the taxes actually imposed on the land retroactive from June 30th of the tax rear in which the dedication was canceled to July 15` of the initial year of the dedication at the tax rate applicable for the respective tax vears except as provided in paragraphs (1) and (2) below The penalty shall be 10 percent for each year of the rollback tax. The rollback tax and penalty shall be a paramount lien upon the propertv (1.. For lands dedicated for five vears and subject to a cancellation after the third tax year of the dedication period the period of the rollback tax shall be in accordance with the followina schedule• (A) For two tax vears for a cancellation in the fourth tax vear of the dedication period retroactive from June 30th of the fourth taxyear_ to July 1S` of the third tax vear of the dedication period (B) For one tax vear for a cancellation in the fifth tax vear of the dedication period retroactive from June 30` of the fifth tax year to July 1st of the fifth tax vear of the dedication period (2) For lands dedicated for 10 vears and subject to a cancellation after the fifth vear of the dedication period the period of the rollback tax shall be in accordance with the following schedule• (A) For five tax vears for a cancellation in the sixth tax vear of the dedication period retroactive from June 30th of the sixth tax ear to July 1st of the second tax vear of the dedication period• ~B) For four tax years for a cancellation in the seventh tax vear of the dedication period retroactive from June 30th of the seventh tax_ year to July 1st of the fourth tax year of the dedication eriod; (C) For three tax years for a cancellation in the eighth tax year of the dedication period retroactive from June 30th of the eighth ta_x year to July 1st of the sixth tax vear of the dedication period•