2012 Hawaii Revised Statutes
TITLE 14. TAXATION
246. Real Property Tax Law
246-12.1 Golf course assessment.
§246-12.1 Golf course assessment. Property operated and used as a golf course shall be assessed for property tax purposes on the following basis:
The value to be assessed by the tax assessor shall be on the basis of its actual use as a golf course rather than on the valuation based on the highest and best use of the land.
In determining the value of actual use, the factors to be considered shall include, among others, rental income, cost of development, sales price and the effect of the value of the golf course on the value of the surrounding lands. [L 1969, c 150, pt of §1]
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