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[(-18}](11) Establishment of a service area within the district is not being <br /> proposed at this time; <br /> [(~-1-)](12) The rate and method of apportionment pursuant to which the first <br /> year's special assessment is to be levied, is as follows: <br /> (A) °°~l Parcels of land within Zone 1, will be <br /> assessed the rate of $1.75 for every $1,000 of "[tea] <br /> Total Net Taxable Value" of each parcel of land, as <br /> indicated on the County of Hawaii Real Property Tax <br /> Assessment list prepared for the tax yeaz corresponding <br /> with the applicable tax year. The rate of assessment <br /> applicable to each parcel of land in Zone 1 shall be called <br /> "Zone 1 Rate;" <br /> (B) Fe~eaek--ga~sel Pazcels of land within Zone 2, will be <br /> assessed the rate ofthirty-three and one-third percent (33- <br /> 1/3%) of the Zone 1 Rate; <br /> (C) All residential condominium apartments within the District <br /> will be assessed at the Zone 2 Rate; <br /> [(£~](D) Parcels of land within Zone 1 and Zone 2 <br /> that contain asingle-family residence or condominium <br /> apartment with a homeowner's exemption on file with the <br /> Hawaii County real property tax office, will be assessed at <br /> the flat annual rate of $100 or the actual real propertv tax <br /> assessment whichever is the lesser amount. The annual <br /> assessment amount as determined above shall remain the <br /> same and shall not increase throughout the entire term of <br /> the improvement district; provided, however, that the <br /> annual rate for a sinele-family residence or condominium <br /> apartment that is hereafter sold, shall be reassessed and <br /> recalculated for the remaining term of the District ;and <br /> [(B)](~ The following pazcels of land shall not be levied special <br /> assessments: <br /> (i) Pazcels of land owned by the United States, [er] the <br /> State of Hawaii and the County of Hawaii; <br /> provided, however, that property and leases of <br /> government property subject to real property <br /> taxation under [$estien] Sections 19-84, 19-85 and <br /> 19-86 of the Hawaii County Code shall be assessed <br /> under this District Plan. <br /> <br /> ATTACHMENT "I" -SHOWS PROPOSED CHANGES TO BILL 55, DRAFT 2 <br /> Page 3 of 14 <br /> <br />