Maui Now photo.
Maui properties are assessed at 100% true market value every year (average of cost and market comparison) and leasehold properties are assessed by complete value; this is how a “fair market value” is established.
Due to the fact that Maui County has few appraisers versus properties that need to be assessed per year, property owners may not actually be receiving the true fair market value of their properties.
Usually, properties are only inspected during a real estate sale, construction or after remodeling.
Image courtesy Maui County website.
Maui property owners can hire a private property appraiser at any time if they feel like their property is currently worth more than its assessed value.
Property values need to be assessed and established by Jan. 1 of each year, even though the fiscal property tax year actually begins on the following July 1. The first bill cycle is sent out July 20 and due by Aug. 20. The second bill cycle is sent out on Jan. 20 and due by Feb. 20.
2015-2016 Maui Property Tax Rates
(“Real property” tax rates shown below are per $1,000 of the 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 Maui property owners are not in agreement with the assessed fair market value of their property, they can easily file and appeal ($75 fee) with the Maui County Board of Review. Legal counsel is not necessary, and the appeal will be heard on a chosen date by a small group of resident commissioners.
If the taxpayer is found in favor, overpaid taxes will be returned. If the taxpayer is not found in favor, taxpayers can continue with a judicial appeal process with the Tax Appeal Court (HRS 91-12 and 91-14).
Lastly, if the taxpayer is not satisfied by the Tax Appeal Court’s decision, he or she can continue to appeal with the Hawai‘i State Supreme Court. Tax appeals can only be made between March 15 and April 9 of the current assessed year. Even if you are are filing an appeal, you still need to pay your taxes by the date due; otherwise, a penalty fee will be applied to your property.
For more information about Maui property tax rates, go online.
