Aloha all my Maui property owners,

 

If you have a long term rental you will now be able to take Long term rental exemption of $200,000. 

 

What does that mean to you? When you file your property tax you can reduce your property evaluation by $200,000.

 

So if your  Maui County Tax  records say your condo is worth $500,00 you will be able to reduce it to $300,000. You will only have to pay tax on the $300,000 reducing your tax base.

 

Which means you pay less taxes.

 

This will be available in 2022. Please always contact a tax professional for tax advice.

 

Below is a podcast which explains this new tax exemption:

Please contact us if us have any questions (808) 633-4850 or email us at info@LovelyMauiHomes.com