Maui County Property Tax Rates for the 2018-2019 Fiscal Year

Posted by Courtney Brown on Tuesday, July 17th, 2018 at 4:51pm.

Maui Property Tax Rates for 2018-2019 Fiscal Year

The Maui County Council approved the new property tax rates for the July 1, 2018-June 30, 2019 Fiscal Year.

The figures below show the rates for each year.  Traditionally, the lowest tax rate is for Homeowner, where this is their declared primary residence.  The highest tax rate remains the Time Share Classification.   This is the first year the county has added the category of Short Term Rental for those condominiums that are rented for a period of time less than 180 days.  Read More on Maui Short Term Rentals.

Maui County assesses taxes based on the tax rate multiplied by the assessed value of the property.  The county assesses values each year based on the sales in the prior fiscal year.  Therefore, the assessed value will seldom line up with current market conditions.  For example, the 2018 rates were based on sales of similar properties from July 1, 2016 to June 30, 2017.

Note: The figures below are the Rate($)/Million of Assessed Value
The county website calculates them per $1000 of assessed value, however, I find having the rates charted below an easier way to make calculations quickly.  Instead of the calculation of (value/$1000) * Rate, the calculation is (assessed value/$1,000,000) * Rate Below.  So a property that is assessed at $500,000 would be half of the applicable amount listed per the owner's use below.

New Maui Property Tax Rates 2018

Per the county website:

  • Property is classified based upon its highest and best use.
  • Properties receiving homeowner exemptions, condominiums, permitted bed and breakfasts and permitted transient vacation rentals are exceptions.
  • Properties which have been granted a homeowner exemption are classified as Homeowner.
  • Condominiums are classified upon consideration of their actual use (Apartment, Commercial, Hotel / Resort, Timeshare, Homeowner).
  • Properties which have been granted a bed and breakfast permit, a transient vacation rental permit, or a conditional permit to operate a transient vacation rental are classified as Commercialized Residential.

Read more about how the Maui County assesses real property taxes, classifications, and important dates.

More comprehensive information can be found at the county of Maui’s Property Tax website. www.mauipropertytax.com > Real Property Tax Info. Please consult with your tax professional or contact the County of Maui with any questions about Property Taxes and Rates.  Information taken from the county website as of the date of this post.  Information is subject to change and should be independently verified.

Courtney M. Brown, R(S)
Vice President
Island Sotheby's International Realty

 

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