On Tuesday, May 28th, the Maui County Council is expected to raise property tax rates for all classifications but residential for the 2013-2014 fiscal year. The council has vacillaed quite a bit this year over tax rates. There were advocates for rates to stay the same and advocates for stronger increases. The end result appears to be a compromise that allows for a modest increase in the county budget. Here is what is being proposed.
» The residential rate will remain the same at $5.75.
» The apartment rate will go from $6.20 to $6.40.
» The commercial rate will increase from $6.90 to $7.05.
» The industrial rate increases from $7.10 to $7.30.
» The agriculture rate will go from from $6 to $6.05.
» The conservation rate will rise from from $6.20 to $6.25.
» The hotel and resort rate will see the biggest increase from $9.15 to $9.40.
» The time share rate will increase from $15.50 to $15.55.
» The homeowner rate bumps up from $2.75 to $2.87.
» commercial residential increases from $4.50 to $4.60.
The rates above are per $1,000 of assessed value. These rates will go into effect on July 1, 2013. Payments are made in two installments with one in August and the other in February. Assessments for the next fiscal year are provided in March.
Michele Muir White R(S), ABR, SFR, Maui Real Estate Guru, Coldwell Banker Island Properties, Wailea 808.298.8448, email: email@example.com