HomeMy WebLinkAboutCOM 0620.064 2002-2004
FROM PAUL MOJKR THE URRNTIR CORP. FAX NO. 8089620909 Sun. 02 2004 01:27PM ri
Two Pages
TO ALL MEMBERS OF COUNT"v! COUTIC:CL .TUNE 04
ATTENTION CHA'.IRMAN JAMF;::i ARAY~:AK
FROM PAUL MONYCA, Resident:, oc:ean:~ront, I'~~,>~a'e,loa ~
~ c
RE: 5008 INCREASE IN L1lND TA7tES..
_ I am 70, retired, living on :3ociaY secu~•ity, still building
:-a
a house I sta:rtsd 10 yecara a";ia, urit_h plank to live out my life
rn
on this property.
When i arrived, I planired :EO:r' taxes„ ine.:urance, high helco
.bills, etc. Coming from California, where Mixes are paid on
the price paid for rural property - and not daily increases in
market value - I was able to han3la retiramen,i: finances until
the recaxlt tax assessment wa.= made, raising rrc;~ land value from
$80,000 to almost 5400,000 pf.r aunnum.
With an inereas® on thou house, the ~Lot:yi tax rate had more
than doubled, forcing me L•o place a home ~qu:LLy mortgage on what
foi: ten years had been a free and clear prop¢~:ay, the result of
all my 11fe's work and savings invested is H~w~yaii Island, with
enough cash spread out into the local econ.omy~ not to be ashamed of.
Zt is with th® understanding that p.rev.Luus taxes: may have
been inordinatley low, but th a following stcu:ement addresses the
basic injustice and illogic ~Lhat detsrm7.nes 7:1X RATES:
California recognized decades ago that the only fair approach
to taxing real property, especially resi.denti.~tl, or used for
residential,l@o set a rate based on the pric<s paid for the property.
With twminal yearly incremental increase,t.
WHAT WE HAVE IN HAWAII THIS YEAR J[S A 'P.AX RATE SASSD ON
TEtB HOT REAL ESTATR MARKET, wH1CH BENEFI.'1':: ONa'..Y THE FEW WHO. ARS
SELLING THEIR PROPERTY NOW, NOT THOSE W1iG NEVLrR INTEND TO SELL-
Retirees who'plan based on establ:C.,hed precedents, such as
the tax rates averaged over the last ten years, are devastated
to have so suddencan increase o~ the prce.:ent proportion.'
When the assessor"s office: e~xplaicce: "M:r.:,MOnka, 1£ you were
selling your property today, L•kiact's what the tax rata, by law,, is
based on," my obvious reply is, irut I'm not. selling today.
Comm. No.
Ref. To: ~reaow?bd
Ref. Dafe
FROM PAUL MONKA THE URRNTIR CORP. FAX ND. : 8089620909 Tun. 02 2004 01:27PM P2
I~agB tW0
There's no cash ri:gisl:.er .ri,tging .i;i n,y home each day,.
as people from all over Y.he world, bid Y:,h ~ pr:.cea higher.
There's no benefit except t~~ sel7.e:-s, a,nd the majority of
people who devot•®d th,rir l..i.ves to being herE, free and cleast
have naw to borrow or to seJ.l to uteet t:he current tax structure.
T urge you therefore t:o consult up.>u ar.d consid®r the
efficacy of the California e~xampl,: of the last quarter century;
i.e.; one pays the tax rate basexi upon tl,e price paid for one's.
property;.. and not the price psi<i by othc~bs for different property.:"
Whoa the first property is xeso].d,. the stx.iler pays a tax on the
profit and a new tax. rate is est:abl#shed based on the new price
paid.
The sixth largest: ecgnomy in th® w<yrld found and still finds,
with all its other current financ9.a1 di:Clicu.ities, thgt_logiC and
fairness-still make a good combination.
As for those of us living here, wia'r'e :;object to a set
of laws that quite obviously fail to cafrsider the nature_:of--
a pattezn of "outer financial„.markets" wknictt invade the privacy
of our 2i.vas insido what used to be the st',elt.er of our homes.
Thank you for your consultation ox~ the dilemma of one
person who faces an additoxrai $0,000 exp,ensce over the next
ten 6r so years without having the oppoi'tunii.y to plan for that.
~5lnaerely,
,~n..k
1?auI Mor~k,r