How property assessments change when land is split or combined

(a) For purposes of this section 12-30: (1) “Subdivide,” “subdivision,” and “subdividing” shall refer to the subdividing of an assessment unit pursuant to chapter 23, Hawai‘i County Code, or the subjection of real property to a condominium property regime pursuant to chapter 514A, Hawai‘i Revised Statutes. (2) “Consolidate,” “consolidation,” and “consolidating” shall refer to the consolidation of more than one assessment unit into a single assessment unit. (b) In the event that an assessment unit previously assessed is subsequently subdivided, the assessments previously levied against such original assessment unit shall be divided pro rata among the resulting assessment units in accordance with the original method of assessment, subject to section 12-30(c). (c) In the event of an increase in the number of assessment units within an improvement district resulting from subdivision, annexation, or otherwise, if so provided in the resolution establishing the improvement district in which such assessment units are located, the department of finance, within sixty days following receipt of notification by the planning department of such approved subdivision, annexation, or other action establishing a new assessment unit or units within the improvement district, shall reallocate the outstanding assessments within the improvement district among the assessment units subject to such outstanding assessments, including the resulting new assessment units. (d) In the event that two or more assessment units previously assessed are subsequently consolidated, the total assessments previously levied against such original assessment units shall be levied against the resulting assessment unit.