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Real property values rise 14.3% as county releases 2025 tax certification
Summary
Maui Countyreal property assessment division certified 2025 values showing a 14.3% increase in certified value, with certified property tax revenue slightly below the mayor's budget projection after adjustments for appeals.
The Real Property Assessment Division certified 2025 assessed values for tax-rate purposes on April 18, showing total certified gross assessed value of $83,728,058,230 and a net taxable value increase of about 14.3% from the prior year.
Division staff told the Budget, Finance and Economic Development Committee the certified value is the gross assessed value less exemptions and an adjustment that sets aside 50% of the valuation for appeals filed by April 9. Using the mayor's proposed tax rates and tiers and after circuit-breaker credits and wildfire exemptions, certified property tax revenue for 2026 equals $643,580,411, about $6.8 million less than the mayor's projection of $650,388,623. Staff said the difference is largely due to appeals and corrections during the appeal period.
The division's materials show increases across property classes, with the biggest growth in the long-term rental classification, which added about 940 parcels in part as a result of changes under Ordinance 57-27. The packet also shows nearly half of taxes under appeal come from the hotel/resort class and explains the practice of reducing the certified total by 50% of valuation on appeal for budgeting purposes.
Committee members asked staff how many appeals had been filed and how appeals affect the budget. Carrie Stockwell and Director Marcy Martin said 1,009 appeals were lodged for the period ending April 9; appeals will be heard beginning in June. Staff explained that the 50% reduction is a standard, cautious adjustment because the board of review and, if necessary, tax appeal court outcomes are uncertain.
Other materials in the division's handouts included owner-occupied exemption statistics, long-term rental exemption statistics, circuit breaker estimates and district-level maps of assessed value and average tax per parcel. Staff noted an online long-term rental exemption application and an implementation of automated reminder notices for owners already in the program.
The committee did not take a final vote on rates; members used the certification as the factual basis for further deliberations on tiers, homeowner exemptions and potential changes to agricultural and residential tiers.
