Property tax rates to be lowered for some homeowners
Council passes new rates, to consider full budget next week
Most Maui County residents who own their homes will see lower property tax rates beginning in July.
Those in the owner-occupied tax classification with properties valued up $1 million will see their rates go down from $2 to $1.90 per $1,000 of net taxable assessed valuation. Those with properties valued from $1,000,001 to $3 million will see their rates go from $2.10 down to $2.
The changes are part of new property tax rates for fiscal year 2024, which were adopted Friday after a public hearing by the Maui County Council. Fiscal 2024 runs from July 1 to June 30, 2024.
But those with owner-occupied properties valued at more than $3 million will see their rates increase from $2.71 to $2.75.
Those were the only changes made to the real property tax rates for next fiscal year. Rates for other categories remained flat. The council kept rates in line with what Mayor Richard Bissen proposed in March.
Two other public hearings were held on Friday by the council, though rates were not yet approved.
One was a hearing on the motor vehicle tax rates, which would charge $0.035 per pound of net weight for passenger vehicles and trucks and noncommercial vehicles not exceeding 6,500 pounds, starting Jan. 1, 2024. This rate remains flat from this year.
However, the county is seeking an increase from $0.0536 to $0.0541 per pound of net weight for all other motor vehicles starting next year.
The minimum tax for any motor vehicle is $15, which remains flat from this year. The penalty for delinquent tax remains the same at $8 for passenger vehicles and $20 for other vehicles.
On Friday there was also a hearing on the fuel tax rates in Maui County for fiscal 2024. There were no proposed changes from this year.
The tax rate per gallon of gasoline and diesel oil is $0.240; biodiesel (B100) is not taxed; biodiesel blend (other than B100) is $0.060; and ethanol, methanol and liquefied petroleum gas will be all taxed at a rate of $0.115 per gallon.
The fuel tax rate is scheduled to be adopted via resolution by the full council on May 23.
The motor vehicle weight tax is part of the county’s operating budget up for first reading on May 23 with the rest of the council’s proposed fiscal 2024 budget, which totals $1.07 billion, a notch shy of Bissen’s proposed $1.08 billion budget.
The property tax rates for fiscal 2024 are as follows and are per $1,000 of net taxable assessed valuation.
Classification (and property valuation, if applicable):
Owner-occupied
Tier 1, up to $1 million: $1.90
Tier 2, $1,000,001 to $3 million: $2.00
Tier 3, more than $3 million: $2.75
Non-owner-occupied
Tier 1, up to $1 million: $5.85
Tier 2, $1,000,001 to $4.5 million: $8.00
Tier 3, more than $4.5 million: $12.50
Apartment: $3.50
Hotel and resort: $11.75
Time share: $14.60
Transient vacation rental/short-term rental home: $11.85
Long-term rental
Tier 1, up to $1 million: $3.00
Tier 2, $1,000,001 to $3 million: $5.00
Tier 3, more than $3 million: $8.00
Agricultural: $5.74
Conservation: $6.43
Commercial: $6.05
Industrial: $7.05
Commercialized Residential: $4.40
* Melissa Tanji can be reached at mtanji@mauinews.com.