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COUNTY OF HAWAI`I • 6 '-'��-fi•*. STATE OF HAWAI`I
RESOLUTION NO. 525 24
A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE
COUNTY OF HAWAI`I FOR THE FISCAL YEAR JULY 1, 2024, TO JUNE 30,2025.
WHEREAS, Chapter 19, Article 7, Section 19-53(e), of the Hawai`i County Code 1983
(2016 Edition, as amended),provides for the classification of property in the County of Hawai`i;
and
WHEREAS, Chapter 19, Article 11, Section 19-90(b), of the Hawai`i County Code 1983
(2016 Edition, as amended), provides for the establishment of tax rates via resolution by the
Council of the County of Hawai`i for net taxable buildings and net taxable lands for each class of
property; and
WHEREAS, Chapter 19,Article 6, Section 19-46.1, of the Hawaii County Code 1983
(2016 Edition, as amended),provides for the establishment of two tiers of tax rates for properties
classified as residential; and
WHEREAS,the Council of the County of Hawai`i has taken as a basis for calculating
the real property tax rate for the County of Hawai`i the following schedule of aggregate values of
real property for the various classes in the County of Hawaii assessable for tax purposes as of
April 29, 2024, certified and furnished by the Director of Finance of the County of Hawai`i:
Classes of Property Value of Net Taxable Value of Net Taxable Value of Net Taxable
Buildings Lands Real Property
A. Affordable Rental Housing $ 428,289,300 $ 202,617,500 $ 630,906,800
B. Residential Tier One $ 4,051,294,450 $ 5,809,716,850 $ 9,861,011,300
C. Residential Tier Two $ 4,321,482,800 $ 2,253,743,500 $ 6,575,226,300
D._Apartment $ 6,583,619,450 $ 1,266,536,300 $ 7,850,155,750
E. Commercial _ $ 1,354,761,450 $ 996,884,700 $ 2,351,646,150
F. Industrial $ 885,991,900 $ 852,412,950 $ 1,738,404,850
G. Agricultural or Native Forests $ 3,349,841,400 $ 3,772,985,613 $ 7,122,827,013
H. Conservation $ 84,811,800 $ 324,893,800 $ 409,705,600
I. Hotel and Resort $ 1,292,872,500 $ 451,718,850 $ 1,744,591,350
J. Homeowner $ 8,361,629,200 $ 4,713,659,300 $ 13,075,288,500
,
TOTAL(ALL CLASSES): $ 30,714,594,250 $ 20,645,169,363 $ 51,359,763,613
; and
WHEREAS, the Council of the County of Hawai`i completed its public hearing on
May 29, 2024, and shall adopt the tax rates on or before June 20, 2024; now, therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAI`I that the
approximate percentage of the revenue to be derived from real property taxes for net taxable
buildings and net taxable lands within each class of property are listed as follows:
Net Taxable Net Taxable
Classes of Property Buildings Lands
(Revenue %) (Revenue %)
A. Affordable Rental Housing 0.49% 0.23%
B. Residential Tier One 8.91% 12.78%
C. Residential Tier Two 11.64% 6.07%
D. Apartment 15.26% 2.94%
E. Commercial 2.87% 2.11%
F. Industrial 1.88% 1.81%
G. Agricultural or Native Forests 6.20% 6.99%
H. Conservation 0.19% 0.74%
I. Hotel and Resort 2.96% 1.03%
J. Homeowner 9.52% 5.37%
BE IT FURTHER RESOLVED that based upon the assigned percentages of
approximate revenue to be raised, the amount of revenues to be derived from real property taxes
for net taxable buildings and net taxable lands within each class of property are listed as follows:
Net Taxable Buildings Net Taxable Lands Net Taxable
Classes of Property Real Property
(Revenue) (Revenue)
(Revenue)
A. Affordable Rental Housing $ 2,462,663 $ 1,165,051 $ 3,627,714
B. Residential Tier One $ 44,969,368 $ 64,487,857 $ 109,457,225
C. Residential Tier Two $ 58,772,166 $ 30,650,912 $ 89,423,078
D. Apartment $ 77,028,348 $ 14,818,475 $ 91,846,822
E. Commercial $ 14,495,948 $ 10,666,666 $ 25,162,614
F. _Industrial $ 9,480,113 $ 9,120,819 $ 18,600,932
G. Agricultural or Native Forests $ 31,321,017 $ 35,277,415 $ 66,598,433
H. _Conservation $ 979,576 $ 3,752,523 $ 4,732,100
I. Hotel and Resort $ 14,932,677 $ 5,217,353 $ 20,150,030
J. Homeowner $ 48,079,368 $ 27,103,541 $ 75,182,909
TOTAL(ALL CLASSES): $ 302,521,245 $ 202,260,611 $ 504,781,856
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BE IT FURTHER RESOLVED that based upon the aforementioned resolves, the
Council of the County of Hawai`i hereby determines the following schedule of rates to which the
various classes of real property in the County of Hawai`i shall be taxed per $1,000 of assessed
valuation for the fiscal year July 1, 2024, to June 30, 2025:
Tax Rate Per Tax Rate Per
Classes of Property Thousand Net Thousand Net
Taxable Buildings Taxable Lands
A. Affordable Rental Housing $ 5.75 $ 5.75
B. Residential Tier One $ 11.10 $ 11.10
C. Residential Tier Two $ 13.60 $ 13.60
D. Apartment $ 11.70 $ 11.70
E. Commercial $ 10.70 $ 10.70
F. Industrial $ 10.70 $ 10.70
G. Agricultural or Native Forests $ 9.35 $ 9.35
H. Conservation $ 11.55 $ 11.55
I. Hotel and Resort $ 11.55 $ 11.55
J. Homeowner $ 5.75 $ 5.75
BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this
resolution to the Honorable Mayor Mitchell D. Roth and the Director of Finance.
Dated at , Hawai`i,this day of 20
INTRODUCED BY:
Rcif C:14
COUNCIL MEMBER, COUNTY OF HAWAI`I
COUNTY COUNCIL ROLL CALL VOTE
County of Hawai`i AYES NOES ABS EX
Hilo, Hawai`i EVANS
GALIMBA
I hereby certify that the foregoing RESOLUTION was by INABA
the vote indicated to the right hereof adopted by the COUNCIL of the KAGIWADA
County of Hawai`i on
KANEALI`I-KLEINFELDER
KIERKIEWICZ
ATTEST: KIMBALL
LEE LOY
VILLEGAS
Reference: C-883/Council
COUNTY CLERK CHAIRPERSON&PRESIDING OFFICER RESOLUTION NO. 525 24
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