Laserfiche WebLink
Honorable Stacy K. Higa <br />Page 7 <br />May 5, 2006 <br />• Although many properties in the Agriculture class are used as rentals, properties in <br />this class can also qualify for benefits through the agriculture use and dedication <br />program. Thus, although the rate for properties in this class should be lowered, it <br />should not be as low as the rates for the Apartment, Improved Residential, and <br />Unimproved Residential classes. <br />• Rates for properties in the Conservation class do not provide rentals for Big Island <br />residents and receive lower assessments due to use restrictions. The rate for <br />properties in this class should not be as low as for properties in the Agriculture class. <br />• Properties in the Hotel/Resort, Commercial, and Industrial classes are used for <br />commercial purposes and should be charged the same rates. <br />Based on the above, the following property tax rates are being proposed for FY 2006-07: <br />Class <br />1. Improved Residential <br />2. Apartment <br />3. Commercial <br />4. Industrial <br />5. Agricultural <br />6. Conservation <br />7. Hotel/Resort <br />8. Unimproved Residential <br />9. Homeowners <br />CONCLUSION <br />Current Rate/$1,000 <br />$9.10 <br />$9.85 <br />$9.85 <br />$9.85 <br />$9.85 <br />$9.85 <br />$9.85 <br />$9.85 <br />$5.55 <br />Proposed Rate/$1,000 Change <br />$8.10 <br />-11.0% <br />$8.10 <br />-17.8% <br />$9.00 <br />-8.6% <br />$9.00 <br />-8.6% <br />$8.35 <br />-15.2% <br />$8.55 <br />-13.2% <br />$9.00 <br />-8.6% <br />$8.10 <br />-17.8% <br />$5.55 <br />0.0% <br />The budget being submitted is aimed at addressing our major goals, while keeping within <br />what we believe are reasonable and responsible limits on growth. It enables the County <br />to continue taking major steps forward in improving services to our residents and <br />protecting the assets we own. <br />We welcome the opportunity to discuss this budget in further detail with you and respond <br />to any concerns you may have. Thank you very much. <br />Al a, <br />arry Kiu <br />Mayor <br />Attachments <br />