HRS §46-112
Taxes on leased redevelopment property
When a county or redevelopment agency leases redeveloped property in a tax increment district, the property is taxed like private property. The lease must require the tenant to pay taxes on the full property value, not just their leasehold interest.
countiestenants
The statute, as written — Tax on leased redevelopment property
Whenever property in the tax increment district has been redeveloped and thereafter is leased by the county or redevelopment agency to any person or whenever the county or agency leases real property in any tax increment district to any person for redevelopment, the property shall be assessed and taxed in the same manner as privately owned property, and the lease or contract shall provide that the lessee shall pay taxes upon the assessed value of the entire property and not merely the assessed value of the lessee's leasehold interest.
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