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I think what you are getting is our general idea that we feel <br /> taxes are definitely a problem. They are going to be worse. <br /> And we are concerned about our homes and many of the. people <br /> in our group are farmers. I know one lady who raises goats. <br /> MR. CADINHA: I appreciate the problem but <br /> we don ' t want to take a. suggestion and write it in and create <br /> another problem. <br /> MS. ISBELL: People who are experts really <br /> need to look at this and see what they can do to help us. <br /> MR. CADINHA: Secondly, with regard to that <br /> valuation. How would you handle a downturn in value? <br /> MS. ISBELL: Do you think that will happen? <br /> MR. CADINHA: It ' s happened before. In the <br /> 30 ' s. I 'm not suggesting it is going to happen again but if <br /> it should and if you had a limitation based on property values <br /> and the values went down you 'd have a county that was in <br /> violation of the charter and to remain within the provisions <br /> of the charter would have to go to default. Or cut out a lot <br /> of services and I 'm just wondering what provisions--how would <br /> you handle that possibility? <br /> MS. ISBELL: If land values go down and we <br /> do have a depression we are all going to be in trouble. Land <br /> values will still be in proportion to the amount of money that <br /> is being used at the time because that means that in the <br /> grocery store the value of groceries are going to go down.. If <br /> you 're really asking me for an opinion on_"what _happens when land <br /> value goes down and the, taxes _go down that the county using. <br /> to run the county, I would say that we are all going to be in <br /> such trouble that that ' s an immense problem for me even to think <br /> about. I 'm pretty sure it is going to happen. We are going to <br /> have a depression but I don ' t know how to answer that , Harlan. <br /> I feel that if we do have that problem it is going to be so big <br /> that the federal government will be in trouble too. <br /> MR. CADINHA: It need not even be a depression. <br /> It depends on where your marker years are. Every market has a <br /> cycle including our own real property. It has had cycles up and <br /> down in accelerating and decelerating rates. If you happen to <br /> take your base year at a peak. . . <br /> MS. ISBELL: For your assessed value? <br /> MR. CADINHA: That ' s right. <br /> MS. ISBELL: You see, if your land value goes <br /> down then the property will be sold for less and then that around <br /> you will be assesssed for less and your assessment will go down. <br /> MR. CADINHA: Right, but the county services <br /> police, fire, water all of these things that we make and take <br /> - 11 - <br />