- December 1, 2023
- Posted by: legaleseblogger
- Category: Related News
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Deadline for Long-Term Rental Exemption and Classification Application
The Maui News
December 31, 2023, is the final day for property owners to apply for the long-term rental exemption and classification for the 2024 assessment year. This reminder was issued by the Maui County Real Property Assessment Division, urging property owners to take necessary action before the deadline.
It is crucial for property owners who previously qualified for the long-term rental exemption to reapply if their lease agreement has expired or will expire by December 31, 2023. Additionally, the county is encouraging property owners who have long-term rentals but have not applied in the past to submit their applications for the 2024 assessment year.
To be eligible for the long-term rental exemption, the real property must be occupied as a residential long-term rental as of January 1, 2024, with a signed contract to lease the property for 12 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 the December 31, 2023, deadline.
It is worth noting that the long-term rental exemption may be permitted on more than one home if the homes are located on separate parcels. Additionally, 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.
Property owners who wish to access the long-term rental exemption claim form can find it on the Real Property Assessment Division website at www.mauipropertytax.com under the “Forms” section. To receive confirmation of receipt, they are encouraged to email the claim form and a legible copy of the signed contract to lease to the division at [email protected] by the December 31, 2023, due date.
For any inquiries or assistance, property owners may contact the division by phone at (808) 270-7295 or by email at [email protected].
Given the complexity of legal terminology and documentation involved in applying for the long-term rental exemption and classification, property owners can utilize the AI legalese decoder to simplify the process. This tool can assist in deciphering and understanding the intricate legal language and requirements, ensuring that the application is accurately completed and submitted before the deadline.
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