HomeMy WebLinkAboutCOM 0118.025 2002-2004 EXAMPLE OF TAXATION UNDER PROPOSED CHANGES
Twenty acres of Kau land -not in agriculture
Highest & Best Use Value ($5,000/acre) $ 100,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 985.00
Twenty acres of Kau land -non-dedicated ag use
Ag use value per acre (orchard $1500/acre) x 2 x acreage $ 60,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 591.00
Twenty acres of Kau land - 10-year ag dedication
Ag use value per acre (orchard $1500/acre) x acreage $ 30,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 295.50
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EXAMPLES OF TAXATION UNDER PROPOSED CHANGES
Twenty acres of Kona land -not in agriculture
Highest & Best Use Value ($19,500/acre) $ 390,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 3,841.50
Twenty acres of Kona land -non-dedicated ag use
Ag use value per acre (orchard $1500/acre) x 2 x acreage $ 60,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 591.00
Twenty acres of Kona land - 10-year ag dedication
Ag use value per acre (orchard $1500/acre) x acreage $ 30,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 295.50
Five acres of Kona land -not in agriculture
Highest & Best Use Value ($50,000/acre) $ 250,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 2,462.50
Five acres of Kona land -non-dedicated ag use
Ag use value per acre (orchard $1500/acre) x 2 x acreage $ 15,000.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes $ 147.75
Five acres of Kona land - 10-year ag dedication
Ag use value per acre (orchard $1500/acre) x acreage $ 7,500.00
Tax Rate - $9.85 per $1000 of assessed value 0.00985
Annual Taxes -Minimum Tax $ 100.00