ORD 2004-121 2002-2004 - Laserfiche WebLink

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assessed value as of January ] of the following Year and be subiect to the above provisions. Those properties dedicated to non-speculative residential use as of January 1, 2004 may continue the dedication without imposition of retroactive taxes upon filing and approval of petition for such termination with the director of finance by September 1 of the year following enactment of this section. Upon termination of the dedication these properties shall be assessed at the market value and subiect to section 19-53(h)(1). Those properties dedicated to non-speculative residential use as of January 1 2004 may continue the dedication and upon termination of the dedication period the parcel shall be assessed at the market value and the year followin¢ the termination be subiect to section 19-53(h)(11 unless the dedication is renewed as provided in section 19-58.1. SECTION 3. Material to be repealed is bracketed. New material is underscored. In printing this ordinance, the brackets, bracketed material and underscoring need not be included. SECTION 4. If any provision of this ordinance, or the application thereof to any person or circumstance, is held invalid, such invalidity shall not affect other provisions or applications of the ordinance which can be given effect without the invalid provision or application, and to this end, the provisions of this ordinance are declared to be severable. SECTION 5. This ordinance shall take effect upon its approval. INTR CED BY: (~/R~ COUNCIL MEMB ,COUNTY HAWAII Hilo, Hawaii Date of Introduction: September 15, 2004 Date of 1st Reading: October 20, 2004 Date of 2nd Reading: November 10, 2004 Effective Date: November 19, 2004 R[FEfcEyCE: Comm. 395.6 7