HomeMy WebLinkAboutResolution No. 2021-14COUNTY COUNCIL
COUNTY OF KAUA'I
!\es o I utto n.,_ 2021-14
RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES
FOR THE FISCAL YEAR JULY 1, 2021 TO JUNE 30, 2022
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, 2021 to June 30, 2022, by June 20, 2021; and
WHEREAS, the Department of Finance has certified that the net value of taxable
real property in the County for the tax year 2021-2022 is $23,012,972,750; and
WHEREAS, together with the Director of Finance's March 1, 2021 certification
transmitted to the Council on March 9, 2021, and the Director of Finance's Supplemental
Property Tax Revenue Information dated March 12, 2021, 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 $60,659.00 and $228,988.00, respectively; now
therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUA'I, STATE OF
HA WAI'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, 2021 to June 30, 2022, as
computed in Exhibit I attached hereto:
Homestead
Residential
Vacation Rental
Hotel and Resort
Commercial
Industrial
Agricultural
Conservation
Tax Rate (Per $1,000.00 Net Assessed Valuation)
$ 3.05
$ 6.05
$ 9.85
$10.85
$ 8.10
$ 8.10
$ 6.75
$ 6. 7"5
Residential Investor
Commercialized Home Use
$ 9.40
$ 5.05
Introduced by:() nJ\& ~
A~~~NESHIRO
(By Request)
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EXHIBIT I
NET TAXABLE VALUE
-100% F:MV
-Less Exemptions REVENUE TAX TAX
-Less 50% Appeals BY CLASSES REVENUE RATE
HOMESTEAD 5,551,473,000 10.75% 16,931,993 3.05
RESIDENTIAL 5,364,961,050 20.60% 32,458,014 6.05
VACATION RENTAL 3,789,374,300 23.69% 37,325,337 9.85
HOTEL AND RESORT 2,424,082,400 16.69% 26,301,294 10.85
COMMERCIAL 1,264,039,300 6.50% 10,238,718 8.10
INDUSTRIAL 409,697,500 2.11% 3,318,550 8.10
AGRICULTURAL 1,053,874,400 4.51% 7,113,652 6.75
CONSERVATION 109,559,800 0.47% 739,529 6.75
RESIDENTIAL INVESTOR l, 782,370,150 10.63% 16,754,279 9.40
COMMERCIALIZED HOME USE 1,263,540,850 4.05% 6,380,881 5.05
-----------------------------------
Subtotal-23,012,972,750 100.00% 157,562,248
Less:
Home Preservation Limit Differential (60,659)
Very Low Income Tax Credit (228,988)
Total 157,272,601
CERTIFICATE OF THE COUNTY CLERK
I hereby certify, that on March 24, 2021, the Council of the County of Kaua'i
entertained a motion to schedule a Public Hearing on Resolution No. 2021-14 for
May 12, 2021 at 5:00 p.m., and thereafter refer said Resolution to the Committee of the
Whole, by the following vote:
FOR MOTION:
AGAINST MOTION:
EXCUSED & NOT VOTING:
RECUSED & NOT VOTING:
Lihu'e, Hawai'i
March 24, 2021
Carvalho, Chock, Cowden, DeCosta,
Evslin, Kuali'i, Kaneshiro TOTAL-7,
TOTAL-0,
TOTAL-0,
TOTAL-0.
None
None
None
Jade . ountain-Tanigawa
County Clerk, County of Kaua'i