File Oahu Property Tax Exemptions by September 30

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Real Estate

All Oahu homeowners who qualify to claim their homeowners exemption must file by the September 30th deadline. Doing so helps them avoid paying a higher property tax rate next year (2018).

Currently, the basic home exemption is $80,000. This means that $80,000 is deducted from the assessed value of the property and the homeowner is taxed on the balance. For homeowners 65 years and older the home exemption is $120,000. To qualify for this exemption, you must be 65 years or older on or before June 30 preceding the tax year for which the exemption is claimed.

How much money will this save you?

Here's an actual example:
Oahu owner-occupied properties (those in which the owner lives in for a minimum of 270 days per year) are taxed at a rate of $3.50 per every $1,000 of assessed value for all properties under $1,000,000. Let's say your home is assessed at $780,000. But, you file for a homeowner's exemption, so it will now be assessed at $700,000 (assessed value of $780,000 less the exemption of $80,000).

Instead of paying $2730 in property taxes annually, you'll be paying $2,450. That's a $280 annual savings!

Do you qualify for an exemption? Check here on the background and qualifications page:

File for a home exemption online:

If you ALREADY have a property tax exemption, you do NOT need to file again every year.  You would only need to file again if you purchased and moved into a new property. 

Homeowners will need the Parcel ID (Tax Map Key) and Parcel Address. The Parcel ID can be found on a previous tax bill OR can be looked up here using the property address.