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REPORT OF TIIE <br /> COMMITTEE ON FINANCE <br /> DATE: July 5, 2001 Re: Comm. No. 333/Bill No. 93 <br /> PLACE: Council Chambers <br /> TIME: 10:20 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. 93, reports as follows: <br /> Bill No. 93, transmitted by Council Member J. Curtis Tyler, III, via Communication No.333, dated <br /> June 7, 1999, amends Chapter 19, Article 11, Section 19-90, Hawaii County Code 1983 (1995 Edition), <br /> relating to the minimum tax. <br /> In 1981, Hawaii County established a minimum real property tax of $7. In 1990, this rate was <br /> subsequently increased to $25 to cover real property administrative costs. Currently, these costs exceed <br /> $40 per parcel, and with more than 49,000 parcels qualifying for the minimum tax the County is losing <br /> substantial revenue. Furthermore, the County is experiencing fiscal challenges due to reduced <br /> <br /> allocations from the State and decreases in real property revenue due to lower valuations. <br /> Communication No. 257.3, transmitted by Mayor Harry Kim, dated June 28, 2001, requested that Your <br /> Committee consider deferring action on Bill No. 93 to allow the Administration time to develop a <br /> <br /> proposal relating to the minimum tax that would be fair and equitable to all Hawaii County taxpayers. <br /> Originally heard on July 7, 1999, this measure was deferred pending additional research and drafting. <br /> <br /> At today's meeting a motion to defer the measure was made and seconded; however, failed due to a lack <br /> <br /> of support. A subsequent motion to file Bill No. 93 was made and approved. <br /> Your Committee on Finance is not in accord with the purpose and intent of Bill No. 93 and recommends <br /> it be filed. <br /> smc <br /> AYES NOES A&E Ex Respectfully submitted <br /> CHUNG X <br /> P[SICCHIO x COMMITTEE ON FINANCE <br /> ARAKAKI X <br /> ELARIONOFF X <br /> JACOBSON X <br /> LEITHEAD-TODD X <br /> SAFARIK x AARON S.Y. CHUNG, CHAIR <br /> TYLER X FC REPORT NO. 88 <br /> YAGONG X ADOPTED: J~J~,.~2001 <br /> <br />