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Maui Property Tax Rates

How Maui property tax rates are calculated based on appraisals.
October 16, 2015

Maui Property Tax Rates

Interested in Maui property tax rates for 2015-2016? It's a common thing to look into if you're a Maui real estate buyer or owner. The tax rate depends on the value of the property, which is assessed at 100% true market value each year based on cost and a market comparison. Appraisers aim to figure out the most accurate price of your property in a competitive and open market, assuming both the buyer and seller are making informed, prudent decisions. An accurate appraisal is an important factor in establishing your correct tax rate.

Conveniently for those who have just bought their Maui real estate, a property inspection likely took place at the time of the sale. That means you will have an accurate fair market value in your first year of ownership. Other inspections usually take place during remodeling or construction.

The Real Property Assessment Division of the Department of Finance is responsible for appraisals, but it isn't logistically possible for them to re-assess every property on the island every year. So, if you're thinking long-term, keep in mind that you can hire a private property appraiser if you believe your property is worth more or less than its assessed value. For the new assessment to apply, it has to be done by January 1st, and will apply to the tax year beginning on July 1st. Your first billing will take place on August 20th. You can file an appeal for $75 if you don't agree with the assessed fair market value of your property.

Exemptions are a particular point of interest among real estate owners. These are important to know about. For example, if your property is also your place of residence as of January 1st, you are eligible to have $200,000 deducted from your property assessment before your taxable value is calculated. A $25,000 exemption exists for those with certain disabilities.

Here are the 2015-2016 Maui Property Tax Rates per $1,000 of your assessed taxable net:

Apartment – $6
Residential – $5.40
Homeowner – $2.75
Time Share – $ 14.55
Commercial – $6.60
Industrial – $6.85
Agricultural – $5.75
Conservation – $5.90

If you need more information, visit the County of Maui website. If you need help with your Maui real estate search, you'll find our contact information at the bottom of the page. Mahalo!

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