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Home My WebLink AboutRES 377 Draft 01 2004-2006 ~YY Oi M,Y G COUNTY OF HAWAII STATE OF HAWAII • h~oi'M~+ RESOLUTION NO. 3~ 7 fD6 A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE COUNTY OF HAWAII FOR THE FISCAL YEAR JULY I, 2006, TO JUNE 30, 2007. WHEREAS, Chapter 19, Article 11, Section 19-90 of the Hawaii County Code, as amended, provides for the establishment of tax rates by the Council of the County of Hawaii for net taxable land and net taxable buildings of each class of property established in accordance with Chapter 19, Article 7, Section 19-53(e) of the Hawaii County Code, as amended; and WHEREAS, the Council 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 19, 2006, certified and furnished by the Director of Finance of the County of Hawaii: Value of Net Value of Net Value of Net Taxable Real Classes of Property Taxable Buildin¢ Taxable Land Property (A) Improved Residential $ 1,281,050,360 $ 2,938,402,301 $ 4,219,452,661 (B) Apartment $ 3,154,980,748 $ 1,347,158,430 $ 4,502,139,178 (C) Commercial $ 620,567,500 $ 662,800,958 $ 1,283,368,458 (D) Industrial $ 317,851,800 $ 397,210,447 $ 715,062,247 (E) Agricultural or Native Forests $ 1,195,255,839 $ 3,985,646,750 $ 5,180,902,589 (F) Conservation $ 28,471,588 $ 356,315,979 $ 384,787,567 (G) Hotel and Resort $ 1,209,049,939 $ 1,050,627,785 $ 2,259,677,724 (H) Unimproved Residential $ 43,372,200 $ 762,663,615 $ 806,035,815 (I) Homeowner $ ],408,215,083 $ 1,947,983,247 $ 3,356,198,330 TOTAL-ALL CLASSES $ 9,258,8]5,057 $ 13,448,809,512 $ 22,707,624,569 and WHEREAS, the Council completed its public hearings on May 16 and 18, 2006, and shall adopt the tax rates on or before June 20, 2006. NOW, THEREFORE, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that the following percentages of the revenues to be derived from current real property taxes are assigned to the net taxable lands and net taxable buildings within each of the following classes of property: Revenue Percentage Revenue Percentage Classes of Property Net Taxable Building Net Taxable Land (A) Improved Residential 5.74% 13.17% (B) Apartment 14.15% 6.04% (C) Commercial 3.09% 3.30% (D) Industrial 1.58% 1.98% (E) Agricultural or Native Forests 5.53% 18.42% (F) Conservation 0.14% 1.69% (G) Hotel and Resort 6.02% 5.23% (H) Unimproved Residential 0.19% 3.42% Q) Homeowner 4.35% 5.98% BE IT FURTHER RESOLVED that based upon the assigned percentages of revenues to be raised, the amount of revenues to be derived within the net taxable buildings and the net taxable land of each class are listed as follows: Revenues Net Revenues Net Revenues Net Taxable Real Classes of Property Taxable Building Taxable Land Pro e (A) Improved Residential $ 10,376,508 $ 23,801,059 $ 34,177,567 (B) Apartment $ 25,555,344 $ 10,911,983 $ 36,467,327 (C) Commercial $ 5,585,108 $ 5,965,209 $ 11,550,317 (D) Industrial $ 2,860,666 $ 3,574,894 $ 6,435,560 (E) Agricultural or Native Forests $ 9,980,386 $ 33,280,150 $ 43,260,536 (F) Conservation $ 243,432 $ 3,046,502 $ 3,289,934 (G) Hotel and Resort $ 10,881,449 $ 9,455,650 $ 20,33'1,099 (FI) Unimproved Residential $ 351,315 $ 6,177,575 $ 6,528,890 (I) Homeowner $ 7,815,594 $ 10,811,307 $ 18,626,901 TOTAL-ALL CLASSES $ 73,649,802 $ 107,024,329 $ 180,674,131 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, 2006, to June 30, 2007. Tax Rate Per Tax Rate Per Thousand Net Thousand Net Classes of Property Taxable BuildinQS Taxable Lands (A) Improved Residential $ 8.10 $ 8.10 (B) Apartment $ 8.10 $ 8.10 (C) Commercial $ 9.00 $ 9.00 (D) Industrial $ 9.00 $ 9.00 (E) Agricultural or Native Forests $ 8.35 $ 8.35 (F) Conservation $ 8.55 $ 8.55 (G) Hotel and Resort $ 9.00 $ 9.00 (H) Unimproved Residential $ 8.10 $ 8.10 (I) Homeowner $ 5.55 $ 5.55 BE IT FINALLY RESOLVED that the Clerk of the County of Hawaii be and is hereby directed to transmit a certified copy of the Resolution to the Director of Finance of the County of Hawaii. Dated at Hilo ,Hawaii, this 5th day of June , 2006. rINITRODUCED B V CO~CIL MEMBER, COUNTY OF HAWAII COUNTY COUNCIL ROLL CALL VOTE County of Hawaii AYES Noss Aas Ex Hilo, Hawaii ARAKAKI g HIGA X I hereby certify that the foregoing RESOLUTION was by HOFFMANN g the vote indicated [o the right hereof adopted by the COUNCIL of the HOLSCHUH X County of Hawaii on June 5 , 200 6 IKEDA X ISBELL X ATTEST: ~ JACOBSON g • PILAGO X SAFARIK X 9 0 0 0 Reference: C-915/Waived FC COUNTY CLERK CHAIRMAN & PRESIDING OFFICER RESOLUTION NO.