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P/SPECIAL COUNCIL <br /> SUBMITTED BY: COLLINS TOMEI, FINANCE DIRECTOR BILL 35 <br /> COMM. 288 <br /> GOUTY CLERK <br /> COUNTY OF HAWAII <br /> Changes made to Real Property Taxes <br /> 2002-03 Minimum tax. <br /> 2017 JUN w-5 : 9 <br /> - increased to $100. This was to collect a fair share of property taxes <br /> with a sliding scale for hardship. <br /> 2003-04 Minimum tax. <br /> - range expanded and tiered $25 to $100. For tiered valuations of <br /> property <br /> 2005-06 Homeowner exemption increased. <br /> - Basic homeowner exemption of $40,000. <br /> - An additional 20% of the assessed value of property not to exceed <br /> $80,000 is established. This increased the homeowner exemption. <br /> -3% cap per year on assessed value increases established. This helped <br /> limit severe increases to homeowner assessed values. <br /> 2006-07 Real Property Tax rates decreased for the following classes: (8 of 9 <br /> classes) Homeowner class unchanged. <br /> -Residential <br /> -Apartment <br /> -Commercial <br /> -Industrial <br /> -Agricultural <br /> -Conservation <br /> -Hotel / Resort <br /> -Unimproved Residential <br /> 2008-09 The following were changes for this year. <br /> -Real Property Tax rates for Residential Land rate decreased. <br /> -Agricultural building rate decreased. <br /> -Unimproved Residential Class discontinued, and Affordable Rental <br /> Class established (same rate as Homeowner Class). <br /> -Affordable Rental, 3% cap per year on assessed value increases <br /> established. This helped limit severe increases to affordable rental <br /> assessed values. <br /> All changes during this time period emphasized fairness but also focused on not <br /> raising taxes and controlling costs. <br /> earnm. No all. <br /> Ref. To: <br /> Ref. Date <br />