The proposed property tax rates for Maui County will be discussed in a public hearing this Friday, May 13 at 11 a.m.
Budget, Finance and Economic Development Committee Chair Keani Rawlins-Fernandez made the announcement, saying the proposal reflects an ongoing tax reform plan that began in 2019.
According to Rawlins-Fernandez, the effort has received near-total council support to adjust property tax rates that benefit residents who live in their own homes or rent long-term to Maui residents, while raising taxes. for visitor accommodation and for residents who own multiple homes. The proposal also included adjustments to tax classification ranges, given inflated home assessments.
The plan strategically incorporates mitigating legislation that Rawlins-Fernandez says aims to “isolate and prevent our residents from continuing to be deprived of their homes.” She said: “Driving local housing policy through taxation is complementary to the other prolific legislative solutions this council has worked on over the past few years.”
The long-term rental exemption and classification was passed in December 2020, which Rawlins-Fernandez says can now be applied to isolate landlords who rent long-term to residents.
“Without the long-term rental class, owners of multiple homes that do not rent long-term will fall into the non-owner occupied class and be taxed at a higher rate to deter housing hoarding in Maui County. or require fair collection of taxes to offset negative impacts resulting from extractive real estate investment activities,” according to a press release issued by the Molokaʻi board member.
The property tax rates per thousand dollars of net taxable assessment for each property class, effective July 1, 2022, are proposed as follows:
The council will accept public testimony via live video at https://bluejeans.com/295235670. Telephone testimony can be done by dialing 1-408-317-9253 and entering the code 295 235 670.