HomeMy WebLinkAboutRES 328 Draft 02 1994-1996COUNTY OF HAWAII STATE OF HAWAII
RESOLUTION N0. X28 96
(Draft 2)
DETERMINING THE REAL PROPERTY TAX RATES FOR THE COUNTY OF HAWAII FOR THE
FISCAL YEAR NLY 1, 1996, TO JiJNE 30, 1997.
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(d) 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, 1996, 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 Buildines Taxable Land PropeRv
(A) Improved Residential $709,170,788 $1,129,257,661 $1,838,428,449
(B) Apartment 874,259,959 381,139,727 1,255,399,686
(C) Commercial 389,259,484 355,581,883 744,841,367
(D) Industrial 182,717,094 204,645,426 387,362,520
(E) Agricultural ~ 706,888,219 1,865,328,652 2,572,216,871
(F) Conservation 20,119,675 273,356,000 293,475,675
(G) Hotel and Resort 457,982,275 441,930,139 899,912,414
(H) Unimproved Residential 29,315,517 301,798,181 331,1 ] 3,698
(I) Homeowners 832.724.002 1123.765.429 1.956.489.431
TOTAL-ALL CLASSES $4.202.437.013 $6.076.803.098 10279.240.111
and
WHEREAS, the Administration has determined that it anticipates collecting 96% of assessments; and
WHEREAS, in order to assure that real property taxes are levied upon all applicable real property
owners, the real property tax rates are based upon the following total revenues:
Revenue Collection Based on 96% of Assessments $81,778,012
Amount of Unanticipated Collection 3.407.417
Total Revenues to be Derived from Real Property $85.185.429
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:
Classes of Property
Revenues Percentaee
Net Taxable Building
Percentaee
Revenue Percentaee
Net Taxable Land
Percentaee
(A) Improved Residential 7.08% 11.27%
(B) Apartment 8.72% 4.48%
(C) Commercial 3.88% 4.18%
(D) Industrial 1.82% 2.40%
(E) Agricultural 7.05% 21.90%
(F) Conservation 0.20% 3.21%
(G) Hotel and Resort 4.57% 5.19%
(H) Unimproved Residential 0.29% 3.54%
(I) Homeowners 4.35% 5.87%
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 Taxable
Classes of Propertv B i
Revenues Revenues
Net Taxable Net Taxable Real
Land Propertv
(A) Improved Residential $6,027,952 $9,598,690 $15,626,642
(B) Apartment 7,431,210 3,811,397 11,242,607
(C) Commercial 3,308,706 3,555,819 6,864,525
(D) Industrial 1,553,095 2,046,454 3,599,549
(E) Agricultural 6,008,550 18,653,287 24,661,837
(F) Conservation 171,0]7 2,733,560 2,904,577
(G) Hotel and Resort 3,892,849 4,419,301 8,312,150
(H) Unimproved Residential 249,182 3,017,92 3,267,164
(I) Homeowners 3 705 5.000.756 8.706.378
TOTAL-ALL CLASSES $32.348.183
5 837 46 $85.185.429
2
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, 1996, to June 30, 1997.
Tax Rate Per Thousand Tax Rate Per Thousand
Classes of Property Net Taxable Buildingg Net Taxable Lands
(A) Improved Residential 8.50 8.50
(B) Apartment 8.50 10.00
(C) Commercial 8.50 10.00
(D) Industrial 8.50 10.00
(E) Agricultural 8.50 10.00
(F) Conservation 8.50 10.00
(G) Hotel and Resort 8.50 10.00
(H) Unimproved Residential 8.50 10.00
(1) Homeowner 4.45 4.45
BE IT FURTHER 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 3rd day of June , 1996.
INTRODUCED BY: /n'
U"'~r
COUNCIL MEMBER, COUNTY OF HAWAII
COL
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I hereby certify that the fa
vote indicated to the right
the County of Hawau on
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COUNTY CLERK CHAIRMAN dr PRESIDING OFFICER
Reference C-119
RESOLUTION NO.
(Draft 2)