HomeMy WebLinkAboutREP FC 252 05/04/2004 2002-2004REPORT OF THE
COMMITTEE ON FINANCE
DATE: May 4, 2004
PLACE: Council Chambers
TIMF,: I I:OS a.m.
Re: Comm. No. 595/Bill No. 261
Council Chair and Members
Hawaii County Council
Hilo, Hawaii 96720
Your Committee on Finance, to which was referred Bill No. 261, reports as follows:
Bill No. 261, transmitted by Finance Committee Chairman Aaron S.Y. Chung, via Communication No. 595, dated
April 12, 2004, amends Chapter 19, Article 7, Section 19-53 of the Hawaii County Code 1983 (1995 Edition),
relating to real property valuations; considerations in fixing.
fhe measure amends section 19-53 subsection (a)(2) by adding the following:
"It is specifically understood that the limitations contained in clauses (i) and (ii) above shall not preclude
a portion of such properties so valued or dedicated, from being classified as "Homeowner" if all other
conditions for such classification are met."
This measure offers portions of properties that are being valued at is best and highest use, which will be taxed at
$9.85 per $ I ,000 net valuation rate, to be able to get the Homeowners rate at $5.55 per $1,000 net valuation rate
that will apply to this coming year's taxes. This measure was prompted by Finance Director Rule No. 7 & 8, in
2002. which changed the valuation method of homesites on agricultural land. The new methodology assesses the
land upon which a home sits at its highest and best use based on comparable values of similar lands being put to
similar uses, as reflected in the market The former method used the agriculture use value to calculate the
assessed value.
Your Committee heard testimony in support of the measure from Susan O'Neill and Dan Lindsay.
During its discussion, some members of Your Committee expressed concerns regarding agriculture land, as they
wanted to give relief to those who lease the property, are working the farm, but do not have a 10-year lease.
Bill No. 261, Draft 2 was referred to Your Committee, dated May 4, 2004, from Finance Committee Chairman
Aaron S.Y. Chung, which corrects the existing code language based on amendments adopted in Ordinance
No. 03-103 (Native forest).
Your Committee on Finance is in accord with the purpose and intent of Bill No. 261, as amended (to Draft 2) and
recommends it pass first reading.
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CHUNG X
SA FARIK X
ARAKAIiI X
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HOI,SCHUH X
.IACOBSON X
REYNOLDS X
TULANC X
TYLF,R X
Respectfully submitted
COM TEE ON FINANCE
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AARON S.Y. CHC NG, CHAIR
F'C REPORT' NO.
ADOPTED: M
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