How the County Values Property for Taxes

The director must cause the fair market value of all taxable real property to be determined and annually assessed by the market data and cost approaches to value using appropriate systematic methods suitable for mass valuation of properties for taxation purposes, so selected and applied to obtain, as far as possible, uniform and equalized assessments throughout the County, except as follows: A. For real property tax purposes, the value of land classified and used for agriculture, whether such lands are dedicated in accordance with section 3.48.350 or not, is the value of the land for agricultural use without regard to any value the land might have for other purposes or uses, or to neighboring land uses, and determined as provided in section 3.48.320 . B. For real property tax purposes, the value of land leased under section 207 of the Hawaiian Homes Commission Act, 1920, is $0. ( Ord. No. 5020 , § 1, 2019; Ord. 2579 § 1, 1997: Ord. 1285 § 2, 1982; Ord. 1076 § 3 (part) 1980: prior code § 6-1.53(a))