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REPORT OFT E <br /> COMMITTEE ON FINANCE <br /> DATE: March 7,2023 Re: Comm.No. 1131Bill No. 28 <br /> PLACE: Council Chambers <br /> Hilo, Hawaii <br /> TIME: 10:31 a.m. <br /> Council Chair and Members <br /> Hawaii County Council <br /> Hilo, Hawaii 96720 <br /> Your Committee on Finance, to which was referred Bill No. 28, reports as follows: <br /> Bill No. 28,transmitted by Committee Member Holeka Goro Inaba, via Communication No. 113 <br /> dated February 14, 2023, amends Chapter 19, Article 7, Section 19-53 and Article 10, Section 19-71, <br /> of the Hawaii County Code 1983 (2016 Edition, as amended), relating to Real Property Taxes. <br /> This bill safeguards certain agriculturally productive properties which are also used as an owner's <br /> primary residence or as an affordable rental from rising assessment values. <br /> Committee Member Holeka Goro Inaba provided a brief background on this measure. <br /> Committee Member Cindy Evans asked for further clarification on this from the department. Assistant <br /> Real Property Tax Administrator Keita Jo provided a detailed overview of this program and its intention. <br /> Ms. Evans expressed that she was concerned about some potentially unintended consequences that could <br /> occur from this measure. <br /> Committee Member Heather Kimball asked Mr. Jo if there was an estimate of the impact on revenue for <br /> this project, to which Mr. Jo replied that they did the analysis a year ago. The cost savings for <br /> individuals in this program equate to about$2.8 million. <br /> Committee Member Jenn Kagiwada stated her support overall but expressed a slight concern that people <br /> who receive these benefits are doing the work. <br /> Committee Member Michelle Galimba also expressed some concerns but is overall supportive. <br /> Committee Member Susan L. K Lee Loy expressed concerns about the mechanics of taxation on <br /> permitted and unpermitted structures. She thanked Mr. Inaba for this measure and said she completely <br /> supports this but that she and some colleagues have the same concerns. Ms. Lee Loy asked Finance <br /> Director Deanna Sako if the $2.8 million would be in this tax cycle or the next,to which Ms. Sako stated <br /> January 1, 2024. <br /> FC Report No. 28 <br />