HomeMy WebLinkAboutResolution No. 2019-23COUNTY COUNCIL
COUNTY OF KAUA’I
3ae&~o1ution No.
RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES
FOR THE FISCAL YEAR JULY 1,2019 TO JUNE 30,2020
FOR THE COUNTY OF KAUA’I
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 1,2019 to June 30,2020,by June 20,2019;and
WHEREAS,the Department of Finance has certified that the net value of taxable
real property in the County for the tax year 2019-2020 is $21,079,694,218;and
WHEREAS,together with the Director of Finance’s February 22,2019 certification
transmitted to the Council on March 15,2019,and the Director of Finance’s
Supplemental Property Tax Revenue Information dated March 15,2019,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 $112,703.00 and $103,944.00,
respectively;now therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUA’I,STATE OF
HAWAI’I,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 1,2019 to June 30,2020,as
computed in Exhibit I attached hereto:
(Per $1,000.00 Net Assessed Valuation)
Homestead
Residential
Vacation Rental
Hotel and Resort
Commercial
Industrial
Agricultural
Conservation
Residential Investor
Commercialized Home Use
Qrertiticate Q3t ~boption
~c Ijerelip c~rtufp t~jat 3Re≤olution .~o.2019—23
~abopftb lip the Qlountil of the Qtountp of I~an&t,~‘tate of
~Iihju’e,I~aua’~,~akuai’t,on May 29,2019
C~SLerk
Tax Rate
$3.05
$6.05
$9.85
$10.85
$8.10
$8.10
$6.75
$6.75
$8.05
$5.05
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(By Request)
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EXHIBIT I
NET TAXABLE VALUE
-100%FMV
-Less Exemptions REVENUE TAX TAX
-Less 50%Appeals BY CLASSES REVENUE RATE
HOMESTEAD 4,810,879,300 10.18%14,673,182 3.05
RESIDENTIAL 4,999,721,307 20.99%30,248,314 6.05
VACATION RENTAL 3,431,614,448 23.46%33,801,402 9.85
HOTEL AND RESORT 2,483,317,859 18.70%26,943,999 10.85
COMMERCIAL 1,202,877,279 6.76%9,743,306 8.10
INDUSTRIAL 387,200,100 2.18%3,136,321 8.10
AGRICULTURAL 845,809,200 3.96%5,709,212 6.75
CONSERVATION 89,773,700 0.42%605,972 6.75
RESIDENTIAL INVESTOR 1,648,660,225 9.21%13,271,715 8.05
COMMERCIALIZED HOME USE 1,179,840,800 4.14%5,958,196 5.05
Subtotal -21,079,694,218 100.00%144,091,619
Less:
Home Preservation Limit Differential (112,703)
Very Low Income Tax Credit (103,944)
Total 143,874,972