July first marked the start of a new fiscal year for the County of Maui. That also means a reset in Maui County Property Tax rates. This year tax rates actually decreased below last year’s numbers. The rates were a battle between county council and the mayor with the council ultimately prevailing. Some of the decrease in rates may be at least partially offset by increasing assessments. Here are the numbers for the 2014-2015 fiscal year.

• The residential rate decreased from $5.75 to $5.57
• The Apartment rate decreased from $6.40 to $6.20.
• The Commercial rate decreased from $7.05 to $6.83.
• The Industrial rate decreased from $7.30 to $7.07.
• The agricultural rate decreased from $6.05 to $5.86.
• The conservation rate decreased from $6.25 to $6.06.
• The Hotel and Resort rate decreased from $9.40 to $9.11.
• The Time Share rate decreased from $15.55 to $15.07.
• The Homeowner rate decreased from $2.87 to $2.78

All of the rates above are per $1,000 of assessed value. Homeowners are also eligible for a $200,000 exemption which may be deduct from their assessed value. For example, someone who qualifies for the homeowner classification that has a property assessed for $700,000 would have $200,000 deducted from their assessment for a net taxable value of $500,000. Applications for homeowner exemptions should be submitted to the county by December 31st. Check with the county for the latest and most up to date eligibility guidelines. The minimum property tax rate bill for Maui County is $150. Taxes are paid in two installments with bills sent in August and February. The county has an online resource available entitled Understanding Property Taxes which goes into more details on assessments, how properties are classified and timelines.

On Tuesday May 28th, The Maui County Council is expected to raise property tax rates for all classifications but residential for the 2013-2014 fiscal year. The council has gone back and forth quite a bit this year over tax rates. There were advocates for rates to stay the same and advocates for stronger increases. The end result appears to be a compromise that allows for a modest increase in the county budget. Here is an outline of the proposed rates for next year.

• The residential rate will remain the same at $5.75.
• The apartment rate will go from $6.20 to $6.40.
• The commercial rate will increase from $6.90 to $7.05.
• The industrial rate increases from $7.10 to $7.30.
• The agriculture rate will go from from $6 to $6.05.
• The conservation rate will rise from from $6.20 to $6.25.
• The hotel and resort rate will see the biggest increase from $9.15 to $9.40.
• The time share rate will increase from $15.50 to $15.55.
• The homeowner rate bumps up from $2.75 to $2.87.
• commercial residential increases from $4.50 to $4.60.

The rates above are per $1,000 of assessed value. These rates will go into effect on July 1, 2013. Payments are made in two installments with one in August and the other in February. Assessments for the next fiscal year are provided in March.