Kauai property tax assessments are assessed at 100% market value. As of 1983 the county decided that the assessed value of a property should be the same as the fee simple market value, this way homeowners can see the worth of their property. (Note: the market moves faster than the tax assessment and the tax assessment may not always reflect true market value.)

Every homeowner living in their Kauai home or condo as their principal residence should be aware of the basic home exemption. This basic home exemption of $160,000 minuses from the taxable value of the property. If you have already applied for the basic home exemption it is not necessary to apply every year.

Senior Home Exemptions – Anyone 60 and over can apply to receive an additional age exemption. Once one of the owners reach age 60 the exemption increases to $180,000 and at age 70 the exemption is $200,000. Don’t forget to take advantage of this! Form title: RP form P-3 due by Sep. 30, 2015

Affordable Rental Home Exemptions- For those homeowners not living in their Kauai residence there is another tax break opportunity. By offering affordable rent this application must be submitted annually. A 3 bedroom house where the tenants do pay for utilities has to be $1,432 a month or under. Yikes, our rental won’t qualify this year. This years’ application is due by Sep. 30, 2015 for your exemption to take place in 2016.

To view these forms go to www.kauai.gov > real property taxes >forms & handouts. Or ask me to send over a copy!