BIL 294 Draft 01 2012-2014 - Laserfiche WebLink

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COUNTY OF HAWAII rtr os N�+r STATE OF HAWAII f pf'Nr BILL NO. 294 ORDINANCE NO. AN ORDINANCE AMENDING CHAPTER 19, ARTICLE 10, SECTION 19-71 OF THE HAWAII COUNTY CODE 1983 (2005 EDITION, AS AMENDED), RELATING TO EXEMPTIONS FROM REAL PROPERTY TAX. BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII: SECTION 1. The purpose of this ordinance is to increase the property tax exemption for real property owned and occupied as a principal home by increasing the principal home exemption from $40,000 to $60,000. In order to provide sufficient time for the real property tax division to make the appropriate adjustments to implement these increases in the amount of the home exemptions available and to provide ample time for public education of these changes and other changes going into effect simultaneously, this amendment will not take effect until December 31, 2015. SECTION 2. Chapter 19, article 10, section 19-71 of the Hawaii County Code 1983 (2005 Edition, as amended), is amended to read as follows: "Section 19-71. Homes. (a) Real property owned and occupied as a principal home shall be exempt to the following extent from property taxes: (1) Totally exempt where the value of the property is not in excess of [$40;980;] $60,000; (2) Where the value of the property is in excess of ,] $60,000, the exemption shall be the amount of [$40;000:] $60,000. Provided that: (A) No such exemption shall be allowed to any corporation, co -partnership, or company; (B) The exemption shall not be allowed on more than one home for any one taxpayer and that such taxpayer shall certify under penalty of perjury that such taxpayer has no other home exemption in any other jurisdiction; (C) The taxpayer has acquired said home by a recorded deed;