Higher property tax rates approved, but still some of the lowest in the nation

Posted by Staff Writer on Tuesday, June 4th, 2019 at 11:53am

Depending on what type of property you own in Maui County, you could be paying a higher property tax bill.

The Maui News recently reported that the county council approved a property rate rate increase for the next fiscal year (July 1, 2019 - June 30, 2020), with hotels and resorts seeing the highest hike. Homeowners, however, won’t see a significant increase in their tax rate.

These are the changes:

 

 

Exactly how much you pay on your bill will be determined by how much value the tax assessor assigns to your property.

The Maui News reported that the approved tax rates are expected to bring in about $355.7 million in revenue, a funding boost that local officials say is needed to pay for increased services to the island’s residents. The new rates will go in effect on July 1.

Despite the increase, Hawaii property owners still face some of the lowest property tax burdens in the nation. According to WalletHub, the Aloha State has long had some of the lowest property tax rates, with the owner of a home appraised at the state median value paying slightly more that $1,500.

 

rankings-2010-2017-real-estate-tax_-states

Source: WalletHub

 

 

 

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