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Hawaii County officials are investigating how the assessed value of a 26-acre commercial parcel on the Big Island fell from $9.9 million to just $100.
West Hawaii Today reported that The Queen Liliuokalani Trust owns the prime property in Kailua-Kona and paid more than $90,000 in taxes last year. But the trust doesn’t have to pay any taxes this year because of the new assessment.
County Tax Administrator Stan Sitko said the property’s commercial designation was changed to archaeological-historical because of a reclassification.
But according to the county tax office online database, the land has retained its commercial zoning.
Sitko says it’s likely the tax office will reassess the property and start charging taxes again in July.
