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Home My WebLink AboutRES 658 Draft 02 2018-2020 v*tY OF/f, ,. y :A i , COUN TY OF HAWAII ::1-(4‘. -- .‘,A •- STATE OF HAWAII .. ):... ..,.. -: RESOLUTION NO. 658 20 (DRAFT 2) A RESOLUTION DETERMINING THE REAL PROPERTY TAX RATES FOR THE COUNTY OF HAWAII FOR THE FISCAL YEAR JULY 1, 2020, TO JUNE 30, 2021. WHEREAS, Chapter 19, Article 7, Section 19-53(e), of the Hawai`i County Code 1983 (2016 Edition, as amended), provides for the classification of property in the County of Hawai`i; and WHEREAS, Chapter 19, Article 11, Section 19-90(b), of the Hawai`i County Code 1983 (2016 Edition, as amended), provides for the establishment of tax rates via resolution by the Council of the County of Hawai`i for net taxable lands and net taxable buildings for each class of property; and WHEREAS, Chapter 19, Article 6, Section 19-46.1, of the Hawai`i County Code 1983 (2016 Edition, as amended), provides for the establishment of two tiers of tax rates for properties classified as residential; and WHEREAS, the Council of the County of Hawaii has taken as a basis for calculating the real property tax rate for the County of Hawai`i 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 16, 2020, certified and furnished by the Director of Finance of the County of Hawai`i: Value of Net Value of Net Value of Net Classes of Property Taxable Real Taxable Buildings Taxable Lands Property A. Residential $ 6,079,403,688 $ 5,496,204,650 $ 11,575,608,338 B. Affordable Rental Housing $ 212,588,400 $ 101,868,550 $ 314,456,950 C. Apartment $ 3,893,577,875 $ 956,638,450 $ 4,850,216,325 D. Hotel and Resort $ 824,784,800 $ 525,023,300 $ 1,349,808,100 E. Commercial $ 834,804,150 $ 809,738,450 $ 1,644,542,600 F. Industrial $ 566,179,250 $ 611,316,800 $ 1,177,496,050 G. Agricultural or Native Forests $ 2,754,945,050 $ 2,579,258,950 $ 5,334,204,000 H. Conservation $ 59,381,500 $ 292,417,700 $ 351,799,200 I. Homeowner $ 5,120,276,378 $ 3,524,139,900 $ 8,644,416,278 TOTAL(ALL CLASSES): $ 20,345,941,091 $ 14,896,606,750 $ 35,242,547,841 ; and WHEREAS, the Council of the County of Hawaii completed its public hearing on June 3, 2020, and shall adopt the tax rates on or before June 20, 2020; now, therefore, BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF HAWAII that the approximate percentage of the revenue to be derived from real property taxes for net taxable lands and net taxable buildings within each class of property are listed as follows: Net Taxable Net Taxable Classes of Property Buildings Lands (Revenue %) (Revenue %) A. Residential 21.23% 18.26% B. Affordable Rental Housing 0.37% 0.18% C. Apartment 13.03% 3.20% D. Hotel and Resort 2.72% 1.73% E. Commercial 2.55% 2.48% F. Industrial 1.73% 1.87% G. Agricultural or Native Forests 7.37% 6.90% H. Conservation 0.20% 0.97% I. Homeowner 9.01% 6.20% BE IT FURTHER RESOLVED that based upon the assigned percentages of approximate revenue to be raised, the amount of revenues to be derived from real property taxes for net taxable lands and net taxable buildings within each class of property are listed as follows: Net Taxable Net Taxable Net Taxable Classes of Property Buildings Lands Real Property (Revenue) (Revenue) (Revenue) A. Residential $ 74,231,167 $ 63,835,640 $ 138,066,807 B. Affordable Rental Housing $ 1,307,419 $ 626,492 $ 1,933,911 C. Apartment $ 45,554,861 $ 11,192,670 $ 56,747,531 D. Hotel and Resort $ 9,526,264 $ 6,064,019 $ 15,590,283 E. Commercial $ 8,932,404 $ 8,664,201 $ 17,596,605 F. Industrial $ 6,058,118 $ 6,541,090 $ 12,599,208 G. Agricultural or Native Forests $ 25,758,736 $ 24,116,071 $ 49,874,807 H. Conservation $ 685,856 $ 3,377,424 $ 4,063,280 I. Homeowner $ 31,489,700 $ 21,673,460 $ 53,163,160 TOTAL(ALL CLASSES): $ 203,544,525 $ 146,091,067 $ 349,635,592 2 BE IT FURTHER RESOLVED that based upon the aforementioned resolves, the Council of the County of Hawai`i hereby determines the following schedule of rates to which the various classes of real property in the County of Hawai`i shall be taxed per $1,000 of assessed valuation for the fiscal year July 1, 2020, to June 30, 2021: Tax Rate Per Tax Rate Per Classes of Property Thousand Net Thousand Net Taxable Buildings Taxable Lands A. Residential Tier One $ 11.10 $ 11.10 Residential Tier Two $ 13.60 $ 13.60 B. Affordable Rental Housing $ 6.15 $ 6.15 C. Apartment $ 11.70 $ 11.70 D. Hotel and Resort $ 11.55 $ 11.55 E. Commercial $ 10.70 $ 10.70 F. Industrial $ 10.70 $ 10.70 G. Agricultural or Native Forests $ 9.35 $ 9.35 H. Conservation $ 11.55 $ 11.55 I. Homeowner $ 6.15 $ 6.15 BE IT FURTHER RESOLVED that the Director of Finance is requested to work with the Council to establish a special fund for community benefits derived from real property tax revenue collected from parcels in the Residential Tier Two property class in the fiscal year beginning July 1, 2021. 3 BE IT FINALLY RESOLVED that the County Clerk shall transmit a copy of this resolution to the Honorable Mayor Harry Kim and the Director of Finance. Dated at Hilo , Hawai`i, this 4th day of June , 20 20 . INTRODUCED BY: COUNCIL ME BER, COUNTY OF HAWAII COUNTY COUNCIL ROLL CALL VOTE County of Hawai`i AYES NOES ABS EX Hilo, Hawai`i CHUNG X DAVID X I hereby certify that the foregoing RESOLUTION was by EOFF X the vote indicated to the right hereof adopted by the COUNCIL of the KANEALI`I-KLEINFELDER X County of Hawaii on June 4, 2020 KIERKIEWICZ X LEE LOY X ATTEST: POINDEXTER X RICHARDS X VILLEGAS X 8 1 0 0 ,�� Reference: C-962.3%Waived FC • r 4 TY CLERK CHAIRPERSON& PRESIDING OFFICER RESOLUTION NO. 658 20 (DRAFT 2) 4