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Aaron S. Y Chum- <br /> Phone No.: (808)961-8272 <br /> Council Member �JrrFax No.: (808)961-8912 <br /> District 2 South Hilo aaron.chung@hawaiicounty.gov <br /> F 14 <br /> HAWAII COUNTY COUNCIL <br /> County ofHawai'i <br /> Hawai'i County Building <br /> 25 A upuni Street <br /> Hilo,Haivai'i 96720 <br /> ri C—, <br /> To: Maile Medeiros David, Council Chair <br /> and Members of the Hawaii County Council <br /> From: aron S. Y. Chung, Council Member <br /> Date: March 2, 2022 <br /> Re: Proposed Amendment to Bill No. 111, Draft 3, an Ordinance Amending <br /> Chapter 19, Article 11, Section 19-90, of the Hawaii County Code 1983 (2016 <br /> Edition, as Amended), Relating to Real Property Taxes <br /> Please see below a proposed amendment to Bill No. 111, Draft 3. The proposed amendment <br /> would amend paragraph(4) of subsection(f)relating to residential tier two property tax. The <br /> proposed amendment is shown in Ramseyer format with respect to the contents of Bill No. 111, <br /> Draft 3; material to be deleted is bracketed and stricken, and material to be added is underscored. <br /> SECTION I of Bill No. 111, Draft 3, is amended to read as follows: <br /> "(f) Residential tax rate tiers. <br /> (1) Notwithstanding any provision to the contrary,the council shall <br /> establish a separate tax rate each for the residential tier one property <br /> and residential tier two property, as defined below. The tax rates shall <br /> be applied as follows: <br /> (A) The tax rate established for the residential tier one property shall <br /> be applied to the net taxable real property value under <br /> $2,000,000. <br /> (B) The tax rate established for the residential tier two property shall <br /> be applied to the net taxable real property value of$2,000,000 or <br /> more. <br /> (2) For the purposes of this section, "residential tier one property" shall <br /> mean all property, or portions thereof, other than a residential tier two <br /> property, within the residential class. "Residential tier two property" <br /> shall mean a property, or portion thereof, which: <br /> (A) Is improved with one or more dwelling units, has a net taxable <br /> real property value of$2,000,000 or more, does not have a home <br /> exemption, and is classified as residential in consideration of the <br /> highest and best use of the land; <br /> Ref. To: <br /> Hawai'i County Is An Equal Opportunity Provider And Employer Ref. Date - 2 2022 <br />