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.
