§248-2 Real property tax; determination of rates.
(a) The council of each county may increase or decrease the tax rate at which real property in that county shall be taxed for each tax year. A resolution increasing or decreasing the tax rate in each county shall be adopted on or before June 20 preceding the tax year for which property tax revenues are to be raised according to the following procedures:(1) After determining that any tax rate certified by the director of taxation under subsection (d) should be increased or decreased and the date of a public hearing concerning such determination, the council shall advertise its intention to increase or decrease the tax rate and the date, time, and place of the public hearing in a newspaper of general circulation in the county in which the rates are to be increased or decreased. The date of the public hearing shall be not less than ten days after the advertisement is first published and shall set forth the tax rate to be considered by the council.
(2) After the public hearing provided for in paragraph (1), the council shall readvertise and reconvene within two weeks to adopt a resolution fixing the tax rate for the tax year for which property tax revenues are to be raised. The advertisement shall state the new rate to be fixed and the amount of the increase or decrease, and the date, time, and place of the public hearing scheduled for fixing such rate. The date, time, and place of the public hearing shall also be announced at the public hearing required by paragraph (1). If the resolution fixing the tax rate is not adopted within two weeks from the public hearing required by paragraph (1), the council shall again advertise and meet as required by paragraph (1).
(3) If after adopting an increase or decrease in the tax rate as provided by paragraphs (1) and (2), the council determines that it requires a further increase or decrease in a tax rate or fails to act in any specified period, the council shall readvertise and follow the requirements of paragraphs (1) and (2).
If the council of each county does not increase or decrease the tax rate certified to the council by the director of taxation under subsection (d) as provided in this subsection, the tax rate so certified shall be the tax rate in the county for the tax year for which the property tax revenues are to be raised.
(b) The council of each county shall increase or decrease the tax rate applicable in the county using the following method:
(1) The total revenue to be raised from real property in the county shall be divided by the aggregate value of the taxable real property within the county. The aggregate value of taxable real property within the county shall mean the net assessed value of all real property in the county as of April 19 preceding the tax year. In all cases where appeals from the assessment of the department of taxation have not yet been finally determined, the values used in determining the aggregate shall be the value claimed by the taxpayer in each case, plus fifty per cent of the value in dispute.
(2) The rate shall be expressed in terms of the tax per $1,000 of assessed value of taxable real property in the county, provided that the applicable rate for each county shall be computed to the nearest cent.
(c) If the tax rate for the tax year in any county is increased or decreased, the council shall notify the director of taxation of the increased or decreased rate, and the director shall employ such rate in the levying of property taxes in that county as provided by law.
(d) The director of taxation shall on or before May 1 preceding the tax year furnish each council with a calculation certified by the director as being as nearly accurate as may be, of the aggregate value of taxable real property within the county plus such additional data relating to the property tax base as the council may request in writing. In addition, the director shall certify to the council of each county, the tax rate for the forthcoming tax year in each county by determining such tax rate by the method established in subsection (b) and by using the aggregate value of taxable real property within the county for the forthcoming year and the county's real property revenues for the current year. Upon its determination such tax rate shall be the tax rate for the county for the forthcoming tax year, unless the county increases or decreases the tax rate as provided in subsection (a).
(e) Insofar as the validity of any tax rate is concerned, the provisions of subsections (a) and (d) of this section as to dates, shall be deemed directory; provided that all other provisions of subsections (a) and (d) and all provisions of subsections (b) and (c) shall be deemed mandatory.
(f) Notwithstanding any provision to the contrary, there shall be levied upon each individual parcel of real property taxable under chapter 246 a minimum real property tax of $7 a year. [L 1932 2d, c 40, pt of §21; RL 1935, pt of §1921; am L 1935, c 216, §1; am L 1937, c 172, §1; am imp L 1941, c 236, §1; am L 1943, c 151, §2; RL 1945, pt of §5252; am L 1947, c 111, §§1, 4; RL 1955, §129-2; am L Sp 1957, c 1, §15(a)(1); am L Sp 1959 1st, c 28, §§21, 22, 23; am L 1963, c 51, §1 and c 142, §8; am L 1964, c 25, §3; am L 1965, c 2, §§2, 3; am L 1967, c 255, §§19, 20, 44-46; HRS §248-2; am L 1969, c 170, §28 and c 218, §§2 to 5; am L 1971, c 10, §2; am L 1973, c 113, §1; am L 1974, c 132, §3; am L 1975, c 53, §§1 to 3 and c 157, §25; am L 1976, c 228, §2 and c 229, §1; am L 1977, c 139, §7; gen ch 1985]