HomeMy WebLinkAboutREP FC 297 08/31/2004 2002-2004RF,PORT OF THF.
COMMITTEE ON FINANCF,
DnTF.: August 31, 2004
PLACL: Council Chambers
I'-ME: 10:05 a.m.
Rr. Comm. No. 394/Bill No. 174
Council Chair and Members
I Iawai'i County Council
}lilo, Hawaii 96720
Your C'ommittce on Pinancc, to which was referred Bill No. 174, reports as follows
Bill No. 174. transmitted by Director of Finance William Takaba_ via Communication No. 394, dated October 23.
2003, amends Chapter 19, Hawaii County Code 1983 (1995 Edition), Real Property Taxes, relating to home
exemptions.
The purpose of this measure is to amend section 19-71, home exemptions, by creating an additional exemption of
20%~ of the pre-exemption assessed value to a maximum of $80,000 for those eligible for homeowners exemption.
Originally heard on November 4.2003_ this measure was deferred
At subsequem Finance Committee workshops held on November 3 & 17, 2003, Director of Finance
William Tal.aba provided an overview of the bill, summary of concerns, summary of exemptions and major
issues. fhe issues included the pros and cons of the additional exemption based on percent of property vahie,
which are as Billows:
Pros: Cons:
-Considers property value when determining exemption -Reduces County revenues
-Provides relief to young families/new homeowners/
persons on fixed incomes
-Provides relief to homeowners living in areas where
property values are increasing rapidly
Bill No. 17~}, Urali 2 was rcicrred to Your Committee, dated October 30, 2003, from Director of Finance William
fakaba. clarih} ing and correcting the original bill.
Some members of Your Committee felt that the maximum of $80,000 fi>r those eligible for homeowners
exemption should he deleted as it did not account for the high values in West Hawaii.
For informational purposes, Mr. "I"yler voted kanalua twice.
Your Committee on Finance is in accord with the purpose and intent of Bill No. 174, as amended to Draft 2, and
recommends it pass lust reading.
emc
s~ rs vors sxr. .u;s
CHIiNG X
S.A FARIK X
ARAI~AItiI X
h:1,ARIONOFF X
HOLSCHUH X
AACOBSON X
REVNOI,DS X
Tl LANG X
7"1LER X
Respectfully submitted
PC RFl'OR't
nDOPTF,D:
COMMITTEE ON FINANCE