November 29, 2023

Dec. 31 deadline for real property long-term rental exemption for 2024 assessment year

County of Maui Real Property Assessment Division reminds property owners that the deadline to apply for the long-term rental exemption and classification is Dec. 31, 2023. Property owners who previously qualified for the long-term rental exemption need to reapply if their lease agreement has expired or will expire by Dec. 31, 2023. Property owners who have long-term rentals and who have not applied in the past are encouraged to apply for 2024.

To qualify for the long-term rental exemption of up to $200,000, the real property must be occupied as a residential long-term rental as of Jan. 1, 2024, with a signed contract to lease the property for twelve consecutive months or more to the same tenant. The division must receive the long-term rental exemption claim form along with the signed lease agreement by Dec. 31, 2023.

The long-term rental exemption may be allowed on more than one home if the homes are located on separate parcels. Properties in the owner-occupied classification that have a dwelling unit occupied as a long-term rental may qualify for a long-term rental exemption of up to $100,000.

The long-term rental exemption claim form can be found on the Real Property Assessment Division website, www.mauipropertytax.com, under Forms. To receive confirmation of receipt, please email your claim form and a legible copy of the signed contract to lease to the division at RPA.LTR@co.maui.hi.us by the Dec. 31, 2023, due date.

Property owners may contact the division by phone at (808) 270-7295 with any questions, or by email at RPA.LTR@co.maui.hi.us.

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