Here are the updated rates for this coming fiscal year. If there is any change in rates, last years rates are noted for reference. All rates shown below are per $1,000 of assessed value.
Please enjoy my Maui Property Tax Calculator to figure out your exact tax liability for each property type. Click www.MauiPropertyTax.ORG
Owner Occupied
Tier 1: up to $1,000,000 Formerly $2.41 now $2.00
Tier 2: $1,000,001 to $3,000,000 Formerly $2.51 now $2.10
Tier 3: more than $3,000,000 Unchanged $2.71
Non Owner Occupied
Tier 1: up to $1,000,000 Formerly $5.45 now $5.85
Tier 2: $1,000,001 to $4,500,000 Formerly $6.05 now $8.00
Tier 3: more than $4,500,000 Formerly $8.00 now $12.50
Rising inflation, soaring home prices, and increased mortgage interest rates have combined to cause a slowdown in the U.S. housing market. To help quell inflation, which reached 8.6% as of last measure in May, the Federal Reserve raised interest rates by three quarters of a percentage point in June, the largest interest rate hike since 1994. Higher prices, coupled with30-year fixed mortgage rates approaching 6%, have exacerbated affordability challenges and rapidly cooled demand, with home sales and mortgage applications falling sharply from a year ago. New Listings increased 1.4 percent for Single Family homes but decreased 18.6 percent for Condominium homes. Pending Sales
