Title
BILL 168 (2025), TO ESTABLISH A REAL PROPERTY TAX EXEMPTION TO INCREASE AND MAINTAIN ACCESS TO AFFORDABLE HOUSING (RPTR-16)
Description
The Committee is in receipt of Bill 168 (2025), entitled “A BILL FOR AN ORDINANCE AMENDING CHAPTER 3.48, MAUI COUNTY CODE, TO ESTABLISH A REAL PROPERTY EXEMPTION TO INCREASE AND MAINTAIN ACCESS TO AFFORDABLE HOUSING.” Bill 168’s purposes are to:
1) For properties that qualify for a Real Property Tax home exemption and a long-term rental exemption:
a) Reduce the required property value for a property to be totally exempt from $400,000 to $300,000; and
b) Reduce the amount a property’s value must exceed from $400,000 to $300,000 to receive an exemption in the amount of $100,000; and
2) For properties with rent no more than 70 percent of fair market rents as established and updated each year by the United States Department of Housing and Urban Development, for tax years beginning on or after July 1, 2026:
a) Totally exempt the property if the property’s value does not exceed $500,000; and
b) Provide a $100,000 exemption if the property’s value exceeds $500,000.
Status
The Committee may consider whether to recommend passage of Bill 168 (2025) on first reading, with or without revisions. The Committee may also consider the filing of Bill 168 (2025) and other related action.