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<br />COUNTY OF HAW~
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<br />SrATE OF HAWAII
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<br />RESOLUTION NO. .271 98
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<br />A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE COUNTY OF
<br />HAWAII FOR THE FISCAL YEAR JULY 1, 1998, TO JUNE 30, 1999.
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<br />WHEREAS, Chapter 19, Article 11, Section .19-90 of the Hawaii County Code, as amended, provides
<br />for the establishment oftax rates by the Council of the County of Hawaii for net taxable land and net taxable
<br />buildings of each class of property established in accordance with Chapter 19, Article 7, Section 19-53( e) of
<br />the Hawaii County Code, as amended; a.nd
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<br />wHEREAS, the Council has taken asa basis for calCulating the real property tax rate for the County of
<br />Hawaii the following schedule of aggregate values of real property for the various classes in the County of
<br />Hawaii assessable for tax purposes as-of April 2Q,; 1998, certifiec:iand furnished by the Director of Finance of
<br />the County of Hawaii:
<br />
<br /> Value of Net
<br /> : Value of Net Value of Net Taxable Real
<br /> Classes of Property Taxable Buildings. Taxable Land Property
<br />(A) Improved Residential $ 710,921,120 $ 978,919,557 $ 1 ;689,840,677
<br />(B) Apartment 840,811,944 389,152,468 1,229,964,412
<br />(C) Commercial 416,363,215 . 392,476,657 808,839,872
<br />(D) Industrial 184,960,170 205,599,439 390,559,609
<br />(E) Agricultural or Native Forest 699,984,128 1,491,940,532 2,191,924,660
<br />(F) Conservation 10,843,500 277,819,572 288,663,072
<br />(G) Hotel and Resort 540,507,125 491,540,355 1,032,047,480
<br />(H) Unimproved Residential 27,239,330 269,990,052 297,229,382
<br />(I) Homeowners 947,676,155 1,052,697,459 2,000,373,614
<br /> TOTAL-ALL CLASSES $ 4;379,306,687 $5,550,136,091 $ 9,929,442,778
<br />; and
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<br />WHEREAS, the Administration has determined that it anticipates collecting 96% of assessments; and
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<br />WHEREAS, in order to assure that real property taxes are levied upon all applicable real property
<br />owners, the real property tax rates are based upon the following total revenues:
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<br />Revenue Collection Based on 96% of Assessments
<br />Amount of Unanticipated Collection
<br />Total Revenues to be Derived from Real Property
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<br />$78,313,500
<br />3,263,031
<br />$81,576,531
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