If you purchased a new home in the past year, this is a gentle reminder to file for your Oahu Homeowner's Exemption before September 30th, 2023.
What is it?
The homeowner's exemption will help you avoid paying a higher property tax rate. The basic homeowner's exemption (for homeowners under 65) for the City and County of Honolulu is $100,000. Homeowners 65 years and older (on or before June 30 of the last tax year) may claim a deduction of $140,000.
For example, if your home was assessed at $900,000, after your claim, the total taxable amount would be $800,000. (or $760,000, if over age 65)
A homeowner 75 years of age or over and meets the definition of “low-income” as defined in the ordinances, shall be entitled to one of the following home exemption amounts for that year:
• 75 years of age or over but not 80 years of age or over $140,000
• 80 years of age or over but not 85 years of age or over $160,000
• 85 years of age or over but not 90 years of age or over $180,000
• 90 years of age or over $200,000
The above exemptions shall continue for a maximum period of five years, after which the exemption amount shall revert to $140,000.
(An exemption at 90 years of age shall extend for the life of the applicant or until June 30, 2039, the director shall not accept claims for exemption under this subsection after September 30, 2013.)
When should I file?
While it's best to file within the first 90 days of purchasing your home (so you don't forget), you have until September 30th.
How often do I need to file?
Unless you move, this is a one-and-done filing. You do not need to remember to file every year.
How do I qualify?
You qualify if have purchased a new home within the past year and live there for at least 270 days out of the year, making it your primary residence.
Your home ownership must be recorded with the Bureau of Conveyances, State Department of Land and Natural Resources, in Honolulu on or before September 30th of the preceding tax year for which you claim the exemption.
You file Form P-3 (link below) with the Real Property Assessment Division on or before September 30th preceding the tax year for which you claim the exemption.
What do I need?
Tax map key/parcel ID of your property (TMK number).
Proof of age, including driver's license, state ID, birth certificate or other legal document.
Learn more about Real Property Tax General information here.