ORD 2004-143 2002-2004 - Laserfiche WebLink

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(4) If the application is approved, the assessment based upon the use requested in the application shall be effective as of January 1 for the following tax year. (5) Renewal of the application shall be in such form and at such time as required by the director. {~ Deferred or roll back tax. (1) A deferred or roll back tax shall be imposed on the owner of the agricultural land upon any of the following events: (A) Conversion to any County zoned district other than agricultural, residential and agricultural, family agricultural, intensive agricultural, or agricultural project district as a result of a petition by the owner or lessee; (B) The property is subdivided into parcels of less than five acres in size: or {C) A condominium property regime is declared for the property having condominium units with an area equivalent to less than five acres in size. (2) The deferred tax shall commence from the date the conversion was ___. made retroactive to the date the agricultural use assessment was approved, but for not more than a period of two vears plus the current year. l3) The amount of deferred taxes shall be based on the difference T between the assessed market value at highest and best use and the assessed agricultural use value of the land at the tax rate applicable for the respective vears, with a ten percent penalty. SECTION 5. Chapter 19, article 8, section 19-60, of the Hawaii County Code 1983 (1995 edition), is amended to read as follows: Section 19-60. [ResewcA.] Commercial Agricultural Use Dedication. a) A special land reserve is established to enable_the owner of any parcel of land, or lessee of a recorded agricultural lease with a minimum of five years remaining on the lease at time of petition, to dedicate his or her land for a specific commercial aaricultural use dedication and to have his or her land assessed its value in such use for a period of ten years, or in the case of a recorded agricultural lease the term of the lease up to ten years, provided: 1) The land dedicated for commercial activity must be used on a continuous .and regular basis for intensive agriculture, orchards, feed crops and fast rotation forestry or pasture and slow rotation forestry and have a minimum lot size per farm operation for that dedicated category of commercial activity as provided for in the administrative rules and regulations of the department; and 12