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~®n Jac®bs <br /> 15-2722 I~`opaa Street 808/g65-0361 <br /> Pahoa, 4~1 9677`8 email: donjC~aloha.net <br /> November 20, 2001 <br /> <br /> TESTIM®NY 6EF®RE TI~BE I~I~OI10All C®UN°fY C®UNCIL EIN~4NCE C®MMITTEE <br /> Mr. Chairman and members of the Finance Committee, my name is Uon <br /> Jacobs. I live on Popaa Street near the; bottom of Kahakai an area <br /> commonly known as Hawaiian Beaches. n~~@~ <br /> ~y <br /> strongly oppose Eill 121. At best it is a dirty, quick fix for the current cam'^~~ ~ ~ 4 <br /> shortfall in tax revenues. A quick fix that would do more harm than good in <br /> the long run. <br /> During the annual budgeting process the Mayor's office and the County <br /> Council determine the amount of money that must be derived from real <br /> property tax revenues. <br /> Chapter 19 of the Hawaii County Code identifies eight (8) classes of land and <br /> several classes of buildings in the Code. according to Section 1 ~?-90(c), the <br /> County Council shall assign a percentage of the tote! tax revenue to each <br /> class of real estate and establish the levy rate for each class 'T® THE <br /> NEaARES`f KENNY' per thousand dollars of assessed value. <br /> ~t this point I should clarify an issue. The dollars per 1000 levy rate and <br /> the minimum tax are two different things. <br /> ~ If the County Council would properly assign levy rates there would be <br /> no shortfall and there would be no need for a minimum tax. <br /> ~ ~ minimum tax is discriminatory, it is a double tax on the lower <br /> valued properties all across the various classes of real estate. <br /> Real estate taxes here in I~awaii County are among the lowest in the nation. <br /> No one that I know wants to pay h'sgher taxes. Neither do I. We own three <br /> houses here in I~lawaii County if my taxes go up after you have honestly <br /> done a fair and equitable job of prorating the tax revenues over the various <br /> classes of real estate, I will pay the increased taxes without complaint. I <br /> may not be happy about it, but I would have no legitimate reason to complain. <br /> Kill Bill 121 ft would be asking the owners of lower valued properties and <br /> many of those with qualified exemptions to bear the burden for all. <br /> ~ .f <br /> ~ ~ <br /> Thank you for listening <br /> <br />