Important 3rd Quarter Tip for homeowners

If you purchased a home in the past year, don’t forget to file your Oahu Home Exemption. This is a one-time claim, so once you submit the form you won’t need to do it again next year – unless you move.

The homeowners exemption takes the tax assessed value of your home and lowers it by a certain amount, and you are then taxed on that lower amount. The standard exemption for Honolulu is $100,000 (if you are younger than 65). If you are over 65 (on or before June 30 of the last tax year) you may claim a deduction of $140,000 of your tax assessed value.

To qualify you must be an owner-occupant and you must file before September 30th. You will need your tax map key/parcel ID and personal identification documents. For a full description of requirements go to the City’s website here. And for the online form you can click here.