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<br /> <br /> <br /> <br /> <br /> <br /> assessed at their current replacement value based on their <br /> <br /> square footage. The Council would then set a tax rate <br /> sufficient to satisfy budgetary needs. <br /> <br /> <br /> The flush of windfall tax money under the current tax system <br /> will lead to unbudgeted expenditures which will quickly <br /> become permanent standard levels of spending. <br /> <br /> <br /> Thank you for allowing me an opportunity to speak and thank <br /> you for joining us here in Kona, where the impact of high end <br /> <br /> property sales is greatest. <br /> <br /> Ted Vorfeld <br />