Maui Property Tax Rates Change for 2011-2012 with a slight increase in most categories (homeowner and commercial rates remain unchanged):
The following is the rate per $1,000 of assessed value for the classification as noted:
$2.50 Homeowner (full time resident)
$5.55 Improved Residential
$9.00 Hotel and Resort
$15.00 Time Share
The 2010-2011 rate for Apartment, Improved Residential, Conservation and Agricultural properties was $5.00/$1000 of assessed value. The Hotel and Resort rate increased from $8.30 to $9.00, and Time Share increased from $14.00 to $15.00.
I find it easier to understand the rates in terms of values per million. In essence, a property owner that declares the property as their primary residence will pay $2500/million of assessed value per year. The rate for a property owner that uses a condominium or home for a second home, or one that rents their property for periods of 180 days or longer is $5500-$5550/million of assessed value per year. The rate for a property owner that rents the property short term (periods of less than 180 days) is $9000/million of assessed value per year.
The county's fiscal year begins on July 1st, with the payments made in two installments. The first installments are mailed on July 20th, with payment due August 20th. The second bills are mailed on January 20th, with payment due on February 20th. Taxes are based on January 1st assessed values and the fiscal year tax rates.
For more information on property tax rates, classifications and usage, you may visit the County of Maui's website at www.mauipropertytax.com or consult with an attorney or tax professional.