HomeMy WebLinkAboutRES 184 Draft 01 2006-2008 ,{y.~VV O(
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COUNTY OF HAWAII STATE OF HAWAII
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RESOLUTION NO. 164 07
A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE
COUNTY OF HAWAII FOR THE FISCAL YEAR JULY 1, 2007, TO JUNE 30, 2008.
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 vazious
classes in the County of Hawaii assessable for tax purposes as of April 19, 2007, 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 PropertX
(A) Improved Residential $ 1,520,234,306 $ 3,843,168,655 $ 5,363,402,961
(B) Apartment $ 3,690,370,673 $ 1,517,499,671 $ 5,207,870,344
(C) Commercial $ 695,318,600 $ 805,167,600 $ 1,500,486,200
(D) Industrial $ 370,117,700 $ 474,100,150 $ 844,217,850
(E) Agricultural $ 1,353,402,625 $ 4,529,187,473 $ 5,882,590,098
(F) Conservation $ 31,771,188 $ 347,798,353 $ 379,569,541
(G) Hotel and Resort $ 1,377,492,245 $ 1,194,878,692 $ 2,572,370,937
(H) Unimproved Residential $ 40,055,600 $ 430,756,689 $ 470,812,289
(I) Homeowner $ 1,687,648,638 $ 2,360,873,394 $ 4,048,522,032
TOTAL-ALL CLASSES $ 10,766,411,575 $ 15,503,430,677 $ 26,269,842,252
and
WHEREAS, the Council completed its public hearings on May 15 and 17, 2007, and
shall adopt the tax rates on or before June 20, 2007; 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 aze assigned
to the net taxable lands and net taxable buildings within each of the following classes of
property:
Revenue Percentage Revenue Percentage
Classes of Propertv Net Taxable Building Net Taxable Land
(A) Improved Residential 5.90% 14.93%
(B) Apartment 14.33% 5.89%
(C) Commercial 3.00% 3.48%
(D) Industrial 1.60% 2.05%
(E) Agricultural 5.42% 18.14%
(F) Conservation 13.00% 1.43%
(G) Hotel and Resort 5.94% 5.16%
(H) Unimproved Residential 0.16% 1.67%
(I) Homeowner 4.49% 6.28%
and
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 aze listed as follows:
Revenues Net
Revenues Net Revenues Net Taxable Real
Classes of Propertv Taxable Buildin¢ Taxable Land Propertv
(A) Improved Residential $ 12,313,898 $ 31,129,666 $ 43,443,564
(B) Apartment $ 29,892,003 $ 12,291,747 $ 42,183,750
(C) Commercial $ 6,257,868 $ 7,246,509 $ 13,504,377
(D) Industrial $ 3,331,059 $ 4,266,901 $ 7,597,960
(E) Agricultural $ 11,300,912 $ 37,818,715 $ 49,119,627
(F) Conservation $ 271,644 $ 2,973,676 $ 3,245,320
(G) Hotel and Resort $ 12,397,430 $ 10,753,908 $ 23,151,338
(I-I) Unimproved Residential $ 324,450 $ 3,489,129 $ 3,813,579
(I) Homeowner $ 9,366,450 $ 13,102,847 $ 22,469,297
TOTAL-ALL CLASSES $ 85,455,714 $ 123,073,098 $ 208,528,812
and
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 yeaz July 1, 2007, to June 30, 2008.
Tax Rate Per Tax Rate Per
Thousand Net Thousand Net
Classes of Property Taxable Buildin¢s 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 $ 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
and
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 1st day of June , 2007.
INTI~DUCED BY:
COUNCIL MEMB , CO OF HAWAII
COUNTY COUNCIL OL CALL VOTE
County of Hawaii AYES NOES ABS EX
Hilo, Hawaii FORD X
HIGH X
I hereby certify that the foregoing RESOLUTION was by HOFFMANN X
the vote indicated to the right hereof adopted by the COUNCIL of the IKEDA
County of Hawaii on June 1 2007 X
JACOBSON g
NAEOLE X
ATTEST: PILAGO X
YAGONG X
YOSHIMOTO X
( S 0 1 0
Reference: C-373/F'C-105
C~K CHAIRMAN IDING OFFICER RESOLUTION NO. 1 0