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(B) Land which is in actual single- or two-family residence use at a density of <br /> at least asingle- or atwo-family residential building per acre, or <br /> (C) Land which is sufficiently developed with necessary land improvements to <br /> support a use density of at least asingle- or two-family residential building <br /> per acre. <br /> (5) "Unimproved residential" shall mean all residential class lands not classified as <br /> "improved residential" or "homeowner." <br /> SECTION 3. Chapter 19, article 10, section 19-71, of the Hawaii County Code 1983 <br /> <br /> (2005 edition), is amended by amending subsection (a) to read as follows: <br /> (a) Real property owned and occupied as a principal home shall be exempt to the following <br /> extent from property taxes: <br /> (I) Totally exempt where the value of the property is not in excess of $40,000; <br /> (2) Where the value of the property is in excess of $40,000, the exemption shall be <br /> the amount of $40,000. <br /> Provided that: <br /> (A) No such exemption shall be allowed to any corporation, co-partnership, or <br /> company; <br /> (B) The exemption shall not be allowed on more than one home for any one <br /> taxpayer and that such taxpayer shall certify under penalty of perjury that <br /> such taxpayer has no other home exemption in any other jurisdiction; <br /> (C) The taxpayer has acquired said home by a recorded deed; <br /> (D) A husband and wife shall not be permitted exemption of separate homes <br /> owned by each of them, unless they are living separate and apart, in which <br /> case they shall be entitled to one exemption, to be apportioned equally <br /> between each of their respective homes; <br /> (E) A person living on premises, a portion of which is used for commercial <br /> purposes, except as provided in (b) or which is legally permitted as a home <br /> occupation in accordance with the zoning code, shall not be entitled to an <br /> exemption with respect to such portion, but shall be entitled to an <br /> exemption with respect to the portion thereof used exclusively as a home; <br /> (~j <br /> <br />