BIL 156 Draft 02 1996-1998 - Laserfiche WebLink

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(B) Land which is in actual single -or two-family residence use at a density of at least a single -or two-family residential building per acre, or (C) Land which is sufficiently developed with necessary land improvements to support a use density of at least a single -or two-family residential building per acre. (5) "Unimproved residential" shall mean all residential class lands not classified as "improved residential" or "homeowner." ([elf) (1) In determining the value of lands which are classified and used for agriculture, whether such lands are dedicated pursuant to section 19-55 or not, consideration shall be given to rent, productivity, nature of actual agricultural use, the advantage or disadvantage of factors such as location, accessibility, transportation facilities, size, shape, topography, quality of soil, water privileges, availability of water and its cost, easements and appurtenances, and to the opinions of persons who may be considered to have special knowledge of land values. Lands classified as tree farm property pursuant to chapter 186, Hawaii Revised Statutes, shall be considered for classification and valuation as agricultural. (2) A deferred or roll back tax shall be imposed on the owner of agricultural lands assessed according to its agricultural use as provided in subsection ([elf) of this section in the event of a change in land use classification by the authorized State agency to urban or rural districts or upon the subdivision of the land into parcels of five acres or less, provided that the tax shall not apply if the owner dedicates the land as provided in section 19-55 within three years from the date of the change in land use classification and fulfills all of the requirements of the dedication. The deferred tax shall be due and payable at the end of the third year following the change in land use classification provided that the land shall continue to be used for agriculture during this period. The total amount of deferred taxes shall be computed commencing at the end of the third year following the change in classification where the land has continuously been used for agriculture, provided however that where the land has been put to a higher urban or rural use prior to the expiration of the three-year period the amount of deferred taxes shall be computed commencing at the end of the year in which the land has been put to such higher urban or rural use, and shall be retroactive to the date the assessment was made pursuant to subsection ([elf) of this section provided the retroactive period shall not exceed ten years. Where the owner has subdivided the land into parcels of five acres or less, the