Deadline nears to apply for real property tax relief, exemptions
If you are a primary resident of the island and not already receiving a home exemption or related tax credit, you could be eligible to file a claim to reduce the real property taxes on your home.
The deadline to apply for 2024 real property tax relief and exemptions is Oct. 2.
To qualify for a home exemption, a homeowner must have occupied their property as their principal home for more than 270 days and filed a 2022 Hawai‘i income tax return. They also must provide a valid Hawai‘i driver’s license or state-issued ID and not claim primary residency elsewhere.
New owners who recently purchased a property with an existing home exemption and homestead or commercialized home use tax classification from the prior owners must apply for the owner-occupied or owner-occupied mixed-use tax classification and their own home exemption to receive a reduction.
The combined gross income threshold for all owner-occupants for the additional home exemption is $96,600. Credits include the limitation of taxes for home preservation and the low-income tax credit.
Approved property owners who rent their properties at or below 90% of the Kaua‘i median household income also can qualify for the lowest tax rate through the long-term affordable rental program. If there are any questions regarding the continuing status of a multi-year lease agreement, property owners are encouraged to contact the Kaua‘i County Real Property Assessment Office or file prior to the Oct. 2 deadline.
Failure to notify the assessor of any change to current tax relief status subjects the property to back taxes and a civil penalty for each year the change is unreported.
For additional information, including all possible exemptions, call 808-241-4224.