COM 0024.018 2012-2014 - Laserfiche WebLink

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should be driven by, the income approach, then the division could get it done • It would be painless and it would score a mayor point for fairness, clarity and appropriateness of valuation systems • Would be delighted if they can further that kind of objective process here Ms Wille announced • They should think about what things that they would want to go over now or what things they would want the division to report back at the next meeting so that the members will be ahead o Mr Onishi stated • His understanding is, and also with the Task Force Members, that they want to look at the income approach • As Mr Sitko and Mrs Crawford mentioned, a change to the code is needed • Will need to get a proposal to the Council to change the code • After that, as the budget will be coming up in the next few months, a possibility would be to recommend getting some funds to the Finance Department to possibly contract some of the work so it gets done faster. • Mr. Sitko's saying they are shorthanded, that there is only one person • They should start looking and moving in that direction and trying to see how much funds are needed because if all the members agree that this is what they would want to do, then they should work with the department to have them get that proposal to the committee so the members can look it over • Then it can be submitted, after the Finance Department gets the committee's approval, to the Council for the budget c Mr Inoue questioned Mr Sitko if he knew if Maui County, Kauai County or Honolulu County uses the income approach Mr Sitko responded that all four counties at this point do not use it Mr Hussey questioned if they were using it or not Mr Sitko responded • All four counties are not using it except for defense work • Understood from the history that this comes down to the way the ordinance was written and a decision by Judge Chang who is in charge of Tax Appeal Court c Mr Hussey questioned if Mr Sitko would anticipate a judicial challenge if they were to recommend what is the obvious Mr Sitko responded • No because basically each County has the right to do what it needs to do as far as real property taxes are concerned • The limitation is because it specifically mentions that they use the market and costs in the County's ordinances and they did not include the word 'income or that approach - 10 -