Property Taxes – Part 3
Each year, as part of the Budget, the County Council sets the tax rates for each of the 8 classes of property, for land and buildings within each class. The classes are: Single Family Residential, Apartment, Commercial, Industrial, Agriculture, Conservation, Hotel/Resort, and Homestead. Other than Homestead, the classes are based on the property’s highest and best use, which is usually the same as the zoning.
The Homestead class is made of properties which are used only as the owner’s principle residence, no matter what the zoning is. Owner-occupied farms are also included in the Homestead class.
The tax rate is applied per $1000 of net taxable value (assessed value minus exemptions.) For example, if the tax rate is $8.00 and the net taxable value is $100,000, the taxes would be $800.00.
The tax period runs from July 1 to Dec 31, with payment due no later than Aug 20. The 2nd installment for the period Jan 1 to June 30 is due February 20. To make any inquiry you need your taxkey number, which is the 5 or 6 digit number associated with your parcel of land. For specific questions about your property, the number for the Real Property Assessment Division in Lihue is 808 241 6222.
I hope this helps solve the tax mystery. For a current copy of the tax rates: click real-property-tax-rates-pdf.pdf.
Remember, when you are buying a property and the agent tells you what the current taxes are, make sure you find out what, if any exemptions are in place otherwise you may be badly underestimating your tax liability.
Aloha,
Elaine Schaefer (R, GRI, ABR)
Broker in Charge – Princeville Resort Office
Graduate, Realtor’s Institute
Accredited Buyer’s Representative
Top Producer 100% Club
RE/MAX Kauai
Princeville Resort Office
POB 223632
Princeville, HI 96722
cell: 808 639 2935
home fax: 1 808 440 4552
email: soldonkauai@yahoo.com
website: www.kauairealestatenow.com
blog: www.blogs.alohaliving.com/princeville-condo-sales
……you can have your own piece of paradise
ask me how!
August 15th, 2007 at 10:26 am
Tax information is also readily available on http://www.kauaipropertytax.com. All you need is the address and not the tax key number. This is a useful site to see what others pay in taxes and who actually owns the property.