The Maui County Property Tax office has “reset” their database and is requiring that all property owners, regardless whether or not they have already declared their occupancy status, to do it again by year’s end. Failure to do refile your applicaiton will result in a loss of owner occupied status, and result in a higher tax basis for the next tax year. There is no forgiveness for late filing, and you will have to wait until the next tax year to see a change in your rate.
Maui County offers a $200,000 property value discount according to their website article. Their website explains:
“For example, if you own a house and lot valued at $550,000 and are eligible for a single home exemption of $200,000, your net taxable value will be $350,000. This figure is divided by 1,000 then multiplied by the applicable tax rate, which is set by the County Council, to determine the taxes owed.’
So, according to Maui County’s 2015 Tax Schedule, the category of “Residential” pays $5.40 per thousand dollars of assessed value where as the “Homeowner” category only pays $2.75 per thousand. Non-owner occupants then, pay a 96% increase over the “Homeowner” category.
So, don’t delay! You could avoid lines by sending a certified letter (return receipt advised) with the “Claim For Home Exemption” form enclosed. Or you can visit the Maui County Tax center at the Maui Mall (the same office as the DMV) pull a number, and wait your turn.
To make your wait in line less painful, keep in mind that Maui County property tax rates are a real deal as compared to Seattle and other areas on the mainland. Now relax. You won’t have to do this again. Well, maybe not until next year.