HomeMy WebLinkAboutResolution No. 2022-10COUNTY COUNCIL
COUNTY OF KAUA'I
l\,eso I ution No. 2022-10
RESOLUTION ESTABLISHING THE REAL PROPERTY TAX RATES
FOR THE FISCAL YEAR JULY 1, 2022 TO JUNE 30, 2023
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, 2022 to June 30, 2023, by
June 20, 2022; and
WHEREAS, the Department of Finance has certified that the net value of taxable
real property in the County for the tax year 2022-2023 is $26,320,240,500; and
WHEREAS, together with the Director of Finance's February 22, 2022 certification
transmitted to the Council on March 15, 2022, and the Director of Finance's
Supplemental Property Tax Revenue Information dated March 14, 2022, 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 $58,591.00 and $247,985.00,
respectively; now therefore,
BE IT RESOLVED BY THE COUNCIL OF THE COUNTY OF KAUA'I, STATE OF
HAW AI'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, 2022 to June 30, 2023, as
computed in Exhibit I attached hereto:
Homestead
Tax Rate (Per $1,000.00 Net Assessed Valuation)
$ 3.05
Residential
Vacation Rental
Hotel and Resort
Commercial
Industrial
Agricultural
Conservation
Residential Investor
Commercialized Home Use
$ 6.05
$ 9.85
$10.85
$ 8.10
$ 8.10
$ 6.75
$ 6.75
$ 9.40
$ 5.05
Introduced by/1 !IA&~
A~~~NESHIRO
(By Request)
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EXHIBIT I
NET TAXABLE VALUE
. 100% FMV
• Less Exemptions REVENUE TAX TAX
BY CLASSES REVENUE RATE • Less 50% Appeals
HOMESTEAD 5,815,214,200 9.44% 17,736,403 3.05
RESIDENTIAL 5,007,721,800 16.13% 30,296,717 6.05
VACATION RENTAL 4,512,638,600 23.66% 44,449,490 9.85
HOTEL AND RESORT 2,743,802,450 15.85% 29,770,257 10.85
COMMERCIAL 1,482,081,050 6.39% 12,004,857 8.10
INDUSTRIAL 514,248,100 2.22% 4,165,410 8.10
AGRICULTURAL 1,264,200,300 4.54% 8,533,352 6.75
CONSERVATION 134,687,400 0.48% 909,140 6.75
RESIDENTIAL INVESTOR 3,569,294,550 17.86% 33,551,369 9.40
COMMERCIALIZED HOME USE 1,276,352,050 .3.43% 6,445,578 5.05
----------------------------------------------
Subtotal· 26,320,240,500 100.00% 187,862,572
Less:
Home Preservation Limit Differential (58,591)
Very Low Income Tax Credit (247,985)
Total 187,555,996
CERTIFICATE OF THE COUNTY CLERK
I hereby certify, that on March 23, 2022, the Council of the County of Kaua'i
entertained a motion to schedule a Public Hearing on Resolution No. 2022-10 for
May 11, 2022 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 23, 2022
Carvalho, Chock, Cowden, DeCosta,
Evslin, Kuali'i, Kaneshiro
None
None
None QjJJ-
TOTAL-7,
TOTAL-0,
TOTAL-0,
TOTAL-0.
Jade K. Fountain-Tanigawa
County Clerk, County of Kaua'i