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<br /> <br /> <br /> <br /> •~V OF <br /> AARON S.Y. CHUNG Phone: (808) 961-8396 <br /> <br /> Cmmcilmember Fax: (808) 961-8912 <br /> 'r'a•wi'M~ <br /> <br /> COUNTY COUNCIL <br /> County ojHawai'i <br /> Hawaii County Building <br /> 25 Aupuni Street <br /> Hilo, Hawaii 96720 <br /> October 21, 2004 <br /> <br /> TO: Council Members <br /> <br /> FROM: Aaron S.Y. Chung, ChVL---1 <br /> Committee on Finance <br /> <br /> RE: Bill 320, Draft 4 relating to Home Exemptions <br /> This is to transmit Bill No. 320, Draft 4, which was the result of the following amendments made at the Council meeting <br /> of October 20, 2004: <br /> <br /> 1. Section 19-68(a)(3): Clarifies that deadline for filing a home exemption claim is on or before December 31 for <br /> the first half payment or June 30 for the second half payment. This shortens the lag period for filing from 18 <br /> months to a maximum of one year. <br /> <br /> 2. Section 19-71(a): Removes the reference to owning and occupying a principal home as of the date of assessment <br /> since the lag period comes into play. <br /> <br /> 3. Section 19-7 1 (a)(2)(A)-(F): Makes minor style changes. <br /> 4. Section 19-7 1 (a)(2)(B): Adds that the taxpayer must certify that he/she has not other home exemption in any <br /> other jurisdiction. <br /> <br /> 5. Section 19-7 1 (a)(2)(C): Reinserts the requirement that the home must be acquired by the taxpayer by a recorded <br /> deed. <br /> <br /> 6. Section 19-7 1 (a)(2)(E): Allows a home with a home occupation or commercial agriculture on the property or in <br /> the home to qualify for a home exemption. <br /> 7. Section 19-7 1 (e)(1)(A): Deletes owner home abandonment as a criteria for principal home and replaces it with <br /> the requirement that the taxpayer has no other home exemption or principal home in any other jurisdiction. <br /> <br /> 8. Section 19-7 1 (e)(2)(A): Changes the number of home occupancy days from 270 to 200-the definition of a legal <br /> resident for income tax purposes. <br /> <br /> 9. Section 19-7 1 (e)(2)(C): Adds requirement that the owner must claim residency only in Hawaii. <br /> <br /> 10. Section 19-71(e)(2)(D)(iii): Makes minor style change. <br /> 11. Section 19-71(f): Added the underlined words "not to exceed an additional $80,000" for clarification. <br /> Comm. No. <br /> Hawaii County is an Equal Opportunity Provider and Employer Ref. To. Q1AAS _ <br /> Ref. Date DQ 2 2 2004 <br /> r .-J ~'y y <br />