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3. Fiscal Analysis <br /> Fiscal analysis includes the numeric description of the property tax, typically including <br /> reports of total valuation, taxable or assessed value, value of exemptions, tax rates, and <br /> the tax consequences of exemptions. <br /> 3.1 The County's Approach to Fiscal Analysis <br /> The County provided various reports showing: <br /> 1. Cross, net, and exempt value by land use class; <br /> 2. The number of properties subject to various exemptions,by exemption type, and <br /> the value exempt under these provisions; <br /> 3. The number of records by land use class; <br /> 4. 2010 and 2011 property tax rates by property class and the amount of property tax <br /> revenue to be levied within each class; <br /> 5. General statistics, including building permits, labor and tourism information, population, <br /> overall tax collections, and the Honolulu consumer price index; <br /> 6. A comparison of property tax rates with other counties within the State of <br /> Hawaii. <br /> This information is useful in trying to understand the scope and breadth of property taxes <br /> in the County. However, it stops short of providing some important elements that increase <br /> the transparency of the property tax and associated exemptions. <br /> 3.2 Additional Dimensions of Tax Analysis <br /> More complete tax analysis would include the following: <br /> 1. Use of the property tax. If it can be distinguished from other revenue sources, the <br /> amount of property tax revenue used for various County purposes should be identified. <br /> This helps fulfill the assessing officer's roll as: "...a very important inforation clearinghouse." 14 <br /> 2. How much property tax is paid by each type of property relative to its share of totol <br /> value. This addresses the otherwise complex issue of understanding the effect <br /> of different tax rates and different exemption amounts for different property classes <br /> or uses. <br /> 14 Dornfest, Alan S., AAS. Overcoming Property Tax Demons and Mysteries. Fair & equitable. January, <br /> 2003. Volume 1, Number 1. p. 11. <br /> 9 <br />