2019 – 2020 Maui Property Tax Rates
The 2017 – 2018 Maui Property Tax Rates have been released. There was a slight increase in rates for many of the classifications from the previous year. These real property tax rates are shown per $1,000 of net taxable assessed valuation. The rates shown below are effective July 1, 2019, thru June 30, 2020.
|Residential Tax Rate||$5.60|
|Apartment Tax Rate||$6.31|
|Commercial Tax Rate||$7.39|
|Industrial Tax Rate||$7.48|
|Agricultural Tax Rate||$5.94|
|Conservation Tax Rate||$6.43|
|Hotel and Resort Tax Rate||$11.00|
|Time Share Tax Rate||$14.40|
|Homeowner Tax Rate||$2.90|
|Commercialized Residential Rate||$4.60|
|Short Term Rental Rate||$10.75|
Remember that Hawaii Property Tax Rates vary from island to island. If you plan to buy Maui Real Estate it is important to consider how you will use your property and determine how it will be classified.
How are Properties Classified?
Maui Properties are classified based upon its highest and best use. Properties which have been granted a homeowner exemption are classified as Homeowner. Maui condos are classified upon consideration of their actual use (Apartment, Commercial, Hotel / Resort, Timeshare, Homeowner). Properties which have been granted a bed and breakfast permit, a transient vacation rental permit or a conditional permit to operate a transient vacation rental are classified as Commercialized Residential.
How are Properties Assessed?
Properties are assessed annually at 100% of market value by using the cost and market comparison approaches to value. County ordinance requires that leasehold properties be assessed in its entirety. Therefore, a fee simple value is determined.
Fair market value is the most probable price (in terms of money) a property should bring in a competitive and open market under all conditions requisite to a fair sale, with the buyer and seller each acting prudently and knowledgeably. Locating, identifying, and appraising your property at fair market value is the responsibility of the Real Property Assessment Division of the Department of Finance.
Over the years, great strides have been made to improve the methods used to assess property in a uniform and fair manner. In the County of Maui there are in excess of 68,000 parcels and 70,000 structures that are required to be re-assessed annually. The number of appraisers in relation to the number of parcels in the county prohibits a personal inspection of each property on an annual basis. Normally, the inspection is undertaken only at the time of construction or remodeling. The “Mass Appraisal Method of Valuation” is applied using a computer assisted mass appraisal system. However, each property is given individual consideration.
Values are established annually as of January 1. These values will be used for the tax year which begins July 1 to compute taxes, which will result in your first billing due on August 20.
If you are an owner occupant, you may qualify for the homeowner’s exemption of $200,000 which reduces your net taxable value and the tax rate. If you own and occupy your property as your principal residence and file a Home Exemption Application by December 31, the exemption will take effect the following assessment year. Homeowners Exemption Application.
|December 31||Deadline for filing exemption claims and ownership documents which affect the tax year|
|December 31||Deadline for filing circuit breaker applications|
|January 1||Assessments set for use during next tax year|
|March 15||Assessment notices mailed|
|April 9||Deadline for filing tax appeals|
|May 1||Certified assessment roll to County Council|
|June 20||Tax Rate set by County Council|
|July 1||Tax Year commences|
|July 20||First half year tax bills mailed|
|August 20||First half year tax payments due|
|September 1||Deadline for filing agriculture dedication petitions|
|January 20||Second half year tax bills mailed|
|February 20||Second half year tax payments due|