Take action when making tax assessments.In the past few years, tax assessment has usually been lower than the asking price. Recently, I have seen tax assessments that are about the same amount or even higher than the property’s selling price.
The Property Tax office explained that our 2008 tax assessment was based on sale from June 2006 to June 2007, and we all know prices were much higher back then. Therefore, since sale prices have declined between June 2007 to June 2008, our 2009 property tax assessments should reflect that change. If you think your assessment is incorrect, you can appeal the assessment; however, this needs to be done soon after you receive the assessment. Contact the helpful property tax office to get all of the details.
A couple of reminders: If you purchased an owner-occupied home in 2008, you have until the end of the year to file for the Homeowners Exemption, which will offer some property tax relief. The forms can be obtained at the Property Tax office. In addition, if you own agriculture-zoned property, it is your responsibility to submit a farm application to the county detailing what will be farmed on the property and submit an application to the property tax office for agriculture-zoned tax assessment.
The property tax appraisers and clerks are very helpful, and willing to answer questions. If you have questions about your assessment, visit the Property Tax office at the Maui Mall for more information.
Chris Bakeman, broker, has been a realtor since 1997, selling in both buyers’ and sellers’ markets. Now with her own company, she offers an affordable way to sell your home starting as low as $4,000 full service on the MLS. Contact Chris Bakeman Realty LLC at 283-6126 or www.chrisbakeman.com.