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COUNTY OF HAWAII
<br />J+tV OF M,�1
<br />�T� CF•NF.•1�
<br />ORDINANCE NO.
<br />STATE OF HAWAII
<br />BILL NO. 27
<br />21 32
<br />AN ORDINANCE AMENDING CHAPTER 19, ARTICLE 7, SECTION 19-53 AND
<br />REPEALING CHAPTER 19, ARTICLE 7, SECTION 19-58.1 AND SECTION 19-58.2 OF
<br />THE HAWAII COUNTY CODE 1983 (2016 EDITION, AS AMENDED), RELATING TO
<br />THE NONSPECULATIVE RESIDENTIAL USE REAL PROPERTY TAX
<br />DEDICATION.
<br />BE IT ORDAINED BY THE COUNCIL OF THE COUNTY OF HAWAII:
<br />SECTION 1. Chapter 19, article 7, section 19-53, of the Hawaii County Code 1983
<br />(2016 Edition, as amended), is amended by amending subsection (g) to read as follows:
<br />"(g) Limitation on homeowner assessment.
<br />[(1�] For properties in the homeowner class as of January 1, 2004 [mot
<br />,7e,re.,te- to flonspeeulative r-esi eiifi l use], the assessed value of the
<br />property shall not increase more than three percent per tax year until
<br />the parcel is sold or any portion thereof sold by way of conveyance
<br />which is subject to conveyance tax under terms of chapter 247, Hawaii
<br />Revised Statutes, at which time the property will be assessed at market
<br />value. In addition to the three percent limit of this subsection any
<br />improvements undertaken on the property within the tax year shall be
<br />assessed at market value. All parcels entering this class after January 1,
<br />2004 shall have the assessed value as of January 1 of the following year
<br />and be subject to the above provisions.
<br />[(2) These pr-ope«t;es ,led e.,te,1 to „ e „ l.,t;.,e ,•esi e„t;.,l , e s e
<br />et, et'. e t.,�Ees "enfit; and appfeval _e fpet;t; f et,
<br />termination with the director- of finanee by September -1, 2009.Upen
<br />t „t;e., e f the ,70th;.,+,,, these properties shall be assessed .,t th uv �v
<br />market value afid s*eet to seefieft 19 53(g)ff.
<br />(3) The ert es dee .,te,7 to „ afi �
<br />�✓ e e residential "v uo vi
<br />T 1
<br />2004 may eentinue the dee .,t; and upen to .,t; e�
<br />the par -eel shall be assessed at e the market value
<br />.•..7 the e,• f lle„ ing the te,-w,;,+.,t;e., be stibjeet to seet;e,, 19 53(8)(1 \ ✓. c n
<br />1ess the ,7 ,7' .,tion ; renewed ., provided ; eetion 1.9 58 1
<br />(4) 'Tl,ese pr-epe, tie ,7e.7ie te.7 to ,. a „l.,tiye ,-esi esti l use as of th
<br />the imposition of r-etfoae4ve taxesmupen filing and appr-eval of petifie
<br />for- t t' f a di t' t1, the di te.• of Fina ee by September-
<br />--------------- -------------- ��---- ------------ ---�u�.�•�• ._.� September-
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