This bill appears to exempt some properties in Lahaina that are located in the SMA or historic district from property tax until June 30, 2028 (or two more years). This bill brings up a number of policy questions for the Council to consider:
1. Why does it not apply to properties outside the SMA?
2. Why is it for 2 additional years and not just one year at this time?
3. Would a property that is issued a final inspection during the tax year be reassessed for the year it was completed or only for the following year?
This bill appears to exempt some properties in Lahaina that are located in the SMA or historic district from property tax until June 30, 2028 (or two more years). This bill brings up a number of policy questions for the Council to consider:
1. Why does it not apply to properties outside the SMA?
2. Why is it for 2 additional years and not just one year at this time?
3. Would a property that is issued a final inspection during the tax year be reassessed for the year it was completed or only for the following year?
Please see attached comments.