HomeMy WebLinkAboutRES 525 Draft 02 2022-2024COUNTY OF HAWAII
STATE OF HAWAII
RESOLUTION NO. 525 24
(DRAFr 2)
A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE
COUNTY OF HAWAI`I FOR THE FISCAL YEAR JULY 1, 2024, TO :TUNE 30, 2025.
WHEREAS, Chapter 19, Article 7, Section 19-53(e), of the Hawaii County Code 1983
(2016 Edition, as amended), provides for the classification of property in the,County of Hawaii;
and
WHEREAS, Chapter 19, Article 11, Section 19-90(b), of the Hawaii County Code 1983
(2016 Edition, as amended), provides for the establishment of tax rates via resolution by the
Council of the County of Hawaii 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 Hawaii has taken as a basis for calculating
the real property tax rate for the County of Hawaii 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 fiirnished by the Director of Finance of the County of Hawaii:
Classes of Property
Value of Net Taxable
Buildings
Value of Net Taxable
Lands
Value of Net Taxable
Real Property
A.
Affordable Rental Housing
$
428,289,300
$
202,617,500
$
630,906,800
B.
Residential Tier One
$
4,051,294,450
$
5,809,716,950
$
9,861,011,300
C.
I Residential Tier Two
$
4,321,482,800
$
2,253,743,500
$
6,575,226,300
R
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
E
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
1.
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
$
20,645,1691363
$
51,359,763,613
; and
WHEREAS, the Council of the County of Hawaii completed its public bearing 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:
Classes of Property
Net Taxable
Buildings
(Revenue %)
Net Taxable
Lands
(Revenue %)
A.
Afl'ordable Rental Housing
0.50%
0.24%
B.
Residential Tier One
8.86%
12.71 %
C.
Residential Tier Two
11.58%
6.04%
D.
Apartment
15.18%
2.92%
E.
Commercial
2.86%
2.10%
F.
Industrial
1.87%
180%
G.
Agricultural or Native Forests
6.17%
6.95%
H.
Conservation
0.19%
0.74%
1.
Hotel and Resort
2.94%1
1.030/co
J.
I Homeowner
9.80%1
5.53%
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:
Classes of Property
Net Taxable Buildings
(Revenue)
Net Taxable Lands
(Revenue)
Net Taxable
Real Property
(Revenue)
A.
Affordable Rental Housing
$
2,548,321
$
1,205,574
$
3,753,895
B.
Residential Tier One
$
44,969,368
$
64,487,857
$
109,457,225
C.
I Res identialTier Two
$
58,772,166
$
30,650,912
$
89,423,078
D.
jApartnient
$
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
1.
Hotel and Resort
$
14,932,677
$
5,217,353
$
20,150,030
J.
Homeowner
$
49,751,694
$
28,046,273
$
77,797,967
TOTAL (ALL CLASSES):
$
304,279,229
$
203,243,867
$
507,523,095
2
BE IT FURTHER RESOLVED that based upon the aforementioned resolves, the
Council of the County of Hawaii hereby determines the following schedule of rates to which the
various classes of real property in the County of Hawaii shall be taxed per $1,000 of assessed
valuation for the fiscal year July 1, 2024, to June 30, 2025:
Classes of Property
Tax Rate Per
Thousand Net
Taxable Buildings
Tax Rate Per
Thousand Net
Taxable Lands
A.
Affordable Rental Housing
$
5.95
$
5.95
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.
I Homeowner
$
5.95
$
5.95
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 Hilo , Hawai`i, this 30th day of May 92024 .
INTRODUCED BY:
CTUNCIL MEMBER, COUNTY OF HAWAI`I
COUNTY COUNCIL
County of Hawaii
Hilo, Hawaii
I hereby certify that the foregoing RESOLUTION was by
the vote indicated to the right hereof adopted b,yy the COUNCIL of the
County of Hawaii on May 3U, 2U24
ATTEST:
ROLL CALL VOTE
AYES
NOES
ABS
EX
EVANS
X
GALIMBA
X
INABA
X
KAGIWADA
X
KANEALI`I-KLEINFELDER
X
KIERKIEWICZ
X
KIMBALL
X
LEE LOY
X
VILLEGAS
X
8
0
1
0
Q--��
Reference: C-883.5/Council
TYCLERIRON &PRESIDING OFFICER RESOLUTION NO. 52S 24
( DRAFT 2 )
3