HomeMy WebLinkAboutResolution No. 2013-41COUNTY COUNCIL COUNTY OF KAUAI 3eotutton No 2013-41 RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES FOR THE FISCAL YEAR JULY 1, 2013 TO JUNE 30, 2014 FOR THE COUNTY OF KAUAI WHEREAS, under the provisions of Sec. 5A -6.3, Chapter 5A, Kaua`i County Code 1987, as amended, the Council of the County of Kaua`i desires to fix and establish the real property tax rates for the tax year July 1, 2013 to June 30, 2014,by June 20, 2013; and WHEREAS, the Department of Finance has certified that the net value of taxable real property in the County for the tax year 2013 - 2014 is $15,707,049,750.00; and WHEREAS, as part of the Director of Finance's March 15, 2013 certification,the Director of Finance informed the Council that due to the Long Term Affordable Rental Credit and Permanent Home Use (PHU) Exemption, there is an estimated loss in tax revenues of $2,841.00 and $3,814,879.00, respectively; now therefore,BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUAI,STATE OF HAWAII, that it does hereby fix and establish the real property tax rates for the several classes of real, property for the fiscal year July 1, 2013 to June 30, 2014, as computed in Exhibit I attached hereto:Tax Rate (Per $1,000.00 Net Assessed Valuation)Homestead $3.05 Residential $5.75 Vacation Rental $8.00 Hotel and Resort $9.00 Commercial $8.00 Industrial $8.00 Agricultural $6.75 Conservation $6.75 Introduced by:JA B V: \BUDGET \13 -14 Budget Documents \Bills & Resolutions \RPT Resolution SS_cy.doc t.Of Bao TN, L e t tj , """"` , lax Eite6.4,16. DLL 2013 -41 4,ao, a.1/2,,tea ty. a iuid a? tri,e onem o' J a u a. , 5ta le E :e,an.,,a,,, Jl.ana i, om, 05 -28 -13 aural Cie.&9iaa 05 -28 -13 4 A Ot 8,a 03 , x ,4,.x x L x x OZ.,,,x 6a x C'lakd 6 0 1 0 COUNTY COUNCIL COUNTY OF KAUAI 3eotutton No 2013-41 RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES FOR THE FISCAL YEAR JULY 1, 2013 TO JUNE 30, 2014 FOR THE COUNTY OF KAUAI WHEREAS, under the provisions of Sec. 5A -6.3, Chapter 5A, Kaua`i County Code 1987, as amended, the Council of the County of Kaua`i desires to fix and establish the real property tax rates for the tax year July 1, 2013 to June 30, 2014,by June 20, 2013; and WHEREAS, the Department of Finance has certified that the net value of taxable real property in the County for the tax year 2013 - 2014 is $15,707,049,750.00; and WHEREAS, as part of the Director of Finance's March 15, 2013 certification,the Director of Finance informed the Council that due to the Long Term Affordable Rental Credit and Permanent Home Use (PHU) Exemption, there is an estimated loss in tax revenues of $2,841.00 and $3,814,879.00, respectively; now therefore,BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUAI,STATE OF HAWAII, that it does hereby fix and establish the real property tax rates for the several classes of real, property for the fiscal year July 1, 2013 to June 30, 2014, as computed in Exhibit I attached hereto:Tax Rate (Per $1,000.00 Net Assessed Valuation)Homestead $3.05 Residential $5.75 Vacation Rental $8.00 Hotel and Resort $9.00 Commercial $8.00 Industrial $8.00 Agricultural $6.75 Conservation $6.75 Introduced by:JA B V: \BUDGET \13 -14 Budget Documents \Bills & Resolutions \RPT Resolution SS_cy.doc t.Of Bao TN, L e t tj , """"` , lax Eite6.4,16. DLL 2013 -41 4,ao, a.1/2,,tea ty. a iuid a? tri,e onem o' J a u a. , 5ta le E :e,an.,,a,,, Jl.ana i, om, 05 -28 -13 aural Cie.&9iaa 05 -28 -13 4
EXHIBIT I NET TAXABLE VALUE 100% FMV Less Exemptions REVENUE TAX TAX Less 50% Appeals BY CLASSES REVENUE RATE HOMESTEAD 4,013,528,600 12.88% 12,241,262 3.05 RESIDENTIAL 5,229,245,300 31.64% 30,068,160 5.75 VACATION RENTAL 2,405,804,050 20.26% 19,246,432 8.00 HOTEL & RESORT 1,971,188,550 18.67% 17,740,697 9.00 COMMERCIAL 962,346,600 8.10% 7,698,773 8.00 INDUSTRIAL 345,301,300 2.91% 2,762,410 8.00 AGRICULTURAL 688,437,700 4.89% 4,646,954 6.75 CONSERVATION 91,197,650 0.65% 615,584 6.75 Subtotal - 15,707,049,750 100.00% 95,020,274 Less:Long Term Rental (2,841)Permanent Home Use Credit (3,814,879)Total 91, 202, 554