HomeMy WebLinkAboutResolution No. 2016-35COUNTY COUNCIL
COUNTY OF KAUAI
af�C$OtUiiDll No.2o1�s,
RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES
FOR THE FISCAL YEAR JULY 1, 2016 TO JUNE 30, 2017
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 Kauai desires to fix and establish the real
property tax rates for the tax year July 1, 2016 to June 30, 2017, by June 20, 2016; and
WHEREAS, the Department of Finance has certified that the net value of taxable
real property in the County for the tax year 2016 -2017 is $18,126,876,800; and
WHEREAS, together with the Deputy Director of Finance's February 19, 2016
certification transmitted to the Council on March 14, 2016, and the Director of Finance's
Supplemental Property Tax Revenue Information dated March 11, 2016, the Council was
informed that due to the Home Preservation Limit Differential and Very Low Income Tax
Credit, there is an estimated loss in tax revenues of $56,498.00 and $38,213.00,
respectively; now therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUAI, STATE OF
HAWAII, that the Council does hereby fix and establish the real property tax rates for
the several classes of real property for the fiscal year July 1, 2016 to June 30, 2017, as
computed in Exhibit I attached hereto:
Tax Rate
Homestead
$
3.05
Residential
$
6.05
Vacation Rental
$
8.85
Hotel and Resort
$10.85
Commercial
$
8.10
Industrial
$
8.10
Agricultural
$
6.75
Conservation
$
6.75
Residential Investor
$
7.05
Commercialized Home Use
$
5.05
(Per $1,000.00 Net Assessed Valuation)
Introduced by:
ARRY KANESHIRO
(By Request)
V: \BUDGET \16 -17 Budget Documents \Bills & Resolutions \FY 2016 -2017 RPT Resolution SS_cy.doc
(Certificate ®f Zboption
Ve berebp certify that Re5olution ,Qo. 2016 -35
Wa.5 abopteb by the (Council of tije County of Raua`i, Mate of
�Oabuai`i, 7- 1bu`e, Raua`i, 3baWai`i, on June 1, 2016.
Q2j/,--
ounty Clerk
a
lte June 1, 2016
fjairrnan & Pre -5ibing Officer
z1ve
-Qav
(ftcugeb
Aecu!5eb
Cbocb
X
)oo ,5er
X
Ragawa
X
Ranegbiro
X
Ruafi`i
X
3&apo3o
X
pubinlura
X
Total
6
0
1
0
(Certificate ®f Zboption
Ve berebp certify that Re5olution ,Qo. 2016 -35
Wa.5 abopteb by the (Council of tije County of Raua`i, Mate of
�Oabuai`i, 7- 1bu`e, Raua`i, 3baWai`i, on June 1, 2016.
Q2j/,--
ounty Clerk
a
lte June 1, 2016
fjairrnan & Pre -5ibing Officer
HOMESTEAD
RESIDENTIAL
VACATION RENTAL
HOTEL AND RESORT
COMMERCIAL
INDUSTRIAL
AGRICULTURAL
CONSERVATION
RESIDENTIAL INVESTOR
COMMERCIALIZED HOME USE
Subtotal -
Less:
Home Preservation Limit Differential
Very Low Income Tax Credit
EXHIBIT I
NET TAXABLE VALUE
- 100% FMV
- Less Exemptions
REVENUE
Less 50% Appeals
BY CLASSES
4,243,898,900
10.85%
4,447,715,450
22.57%
2,805,338,000
20.82%
2,181,057,050
19.85%
1,208,282,800
8.21%
358,569,900
2.44%
838,718,500
4.75%
90,486,850
0.51%
1,037,267,950
6.13%
915,541,400
3.88%
18,126,876,800 100.00%
Total
TAX
REVENUE
12,943,892
26,908,678
24,827,241
23,664,469
9,787,091
2,904,416
5,661,350
610,786
7,312,739
4,623,484
119, 244,147
(56,498)
(38,213)
119,149,436
TAX
RATE
3.05
6.05
8.85
10.85
8.10
8.10
6.75
6.75
7.05
5.05