Maui’s local independent newspaper the Maui Time Weekly had a good homebuyer/homeowner’s tip in this week’s paper. Maui County’s property tax rates favor home owners. The rate a home owner can expect to pay is far lower than that of second home owners or “condotel” owners. That being said, there are a number of Maui residents who pay more than they should because they have not applied for their homeowner’s exemptions. The forms are available online and easy to fill out. The timing on when the form is completed and returned to the county is important. Forms are due by December 31st. Changes in tax rates go into effect for the next fiscal year in July. Buyer’s who purchase a property after January 1 will inherit the tax classification or rate of the previous owner. The amount of the exemption and the tax rates change on an annual basis.

Pete Jalbert