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<br />COUNTY OF HAWAII STATE OF HAWAII
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<br />RESOLUTION NO. 97 97
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<br />DETERMINING THE REAL PROPERTY TAX RATES FOR THE COUNTY OF HAW All FOR THE
<br />FISCAL YEAR JULY 1, 1997, TO JUNE 30, 1998.
<br />
<br />WHEREAS, Chapter 19, Article 11, Section 19-90 of the Hawaii County Code, as amended, provides
<br />for the establishment of tax rates by the Council ofthe County of Hawaii for net taxable land and net taxable
<br />buildings of each class of property established in accordance with Chapter 19, Article 7, Section 19-53( d) of
<br />the Hawaii County Code, as amended; and
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<br />WHEREAS, the Council has taken as a basis for calculating the real property tax rate for the County of
<br />Hawaii the following schedule of aggregate values of real property for the various classes in the County of
<br />Hawaii assessable for tax purposes as of April 18, 1997, certified and furnished by the Director of Finance of
<br />the County of Hawaii:
<br />
<br /> Value of Net
<br /> Value of Net Value of Net Taxable Real
<br /> Classes of Property Taxable Buildin~s Taxable Land Property
<br />(A) Improved Residential $ 713,929,759 $1,080,754,935 $ 1,794,684,694
<br />(B) Apartment 837,311,254 381,468,007 1,218,779,261
<br />(C) Commercial 418,672,188 394,193,520 812,865,708
<br />(D) Industrial 184,015,964 202,721,697 386,737,661
<br />(E) Agricultural or Native Forest 717,233,174 1,622,308,402 2,339,541,576
<br />(F) Conservation 19,740,750 277,292,761 297,033,511
<br />(G) Hotel and Resort 496,133,328 464,217,428 960,350,756
<br />(H) Unimproved Residential 28,096,340 292,206,766 320,303,106
<br />(I) Homeowners 901.861.607 1.124.744.685 2.026.606.292
<br /> TOTAL-ALL CLASSES $ ~J 6.994.364 $5.839.908.201 $ 1Q...156.902.565
<br />; and
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<br />WHEREAS, the Administration has determined that it anticipates collecting 96% of assessments; and
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<br />WHEREAS, in order to assure that real property taxes are levied upon all applicable real property
<br />owners, the real property tax rates are based upon the following total revenues:
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<br />Revenue Collection Based on 96% of Assessments
<br />Amount of Unanticipated Collection
<br />Total Revenues to be Derived from Real Property
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<br />$80,234,428
<br />3.343.101
<br />~83.577.529
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