October 1, 2021, 9 p.m. HST
* Updated October 1, 3:43 p.m.
Reta Chin of Fidelity National Title and Escrow talks about Maui property tax tips and reminders.
Maui property taxes are due twice a year – August 20 and February 20 – and they’re calculated based on the property’s valuation and how the property is used.
When you buy and sell a property, you will notice in your closing statement that the escrow agent will prorate your property taxes based on the date of registration. If you are a buyer, you want to make sure on the date of registration that you visit MauiPropertyTax.com and want to update your mailing address immediately.
December 31, 2021 is the last day you can file an exemption request for homeowners to obtain an exemption of up to $ 200,000 – and you must also file all property documents by that date.
For the homeowner exemption, note that you must be a homeowner and you must file Hawaii resident income taxes, so this must be filed by December 31st so that you can receive the benefits of the owner exemption on August 2022.
New to the property tax office is a new exemption, the long-term rent exemption; and owners have the opportunity to qualify up to $ 200,000. To learn more about this new exemption, watch the video above or visit MauiPropertyTax.com