Tax

FREE Hawaii Kai Property Tax Assessment Appeal Assistance

I’m happy to help you, for FREE, if you’d like to appeal your property assessment, which you should have received in the last week or so.

Last week, a lady on Mariner’s Ridge came to my home to deliver a very nice bottle of red wine and a Thank You note, thanking me for helping her with her appeal last year. We were able to get a reduction in her assessment from $1,595,500 to $1,375,000, an annual savings of $774.

I recently got a call from a woman at the Hawaii Kai Peninsula, saying that her assessment was raised 13% from the previous year. After reviewing the comparable sales, we concluded that her new assessed value is more than 10% over market value and that she can easily make an appeal, and probably win.

Yesterday, a Hawaii Kai homeowner told me that his new tax assessed value is $1,596,500, 27% over market value with payments $1,176 higher than they should be.  Another owner’s assessment is around 50% over market value, meaning he would be paying around $1,400 per year more than he should.  I’ve prepared letters for these owners to use for their appeal.

An increase in value would be surprising when the median sale price in Hawaii Kai has declined in the last year. If last year’s tax assessment was well below market value, it could make sense that this year’s would be higher. The important thing is not whether it went up or down but how it compares to today’s market value, which is based on comparable sales, generally through October 1, 2019.

I can provide you with comparable sales and analysis and prepare a letter for your signature.  Since I’m not an appraiser, the material I provide is not an appraisal.

To file an appeal:

  • You need to use the appropriate City form (2020 Tax Assessment Appeal);
  • It has to be submitted by January 15;
  • It has to show that the assessed value is at least 10% more than market value;
  • You have to pay $50.00; and
  • You’re encouraged to include supporting documentation such as comparable fee simple market sales.

I’ll be around over the holidays and am available if you would like assistance. Reach me at 808-384-9933 or DanMadden@HawaiiLife.com

Aloha and Happy Holidays!

Dan Madden, R
Hawaii Life Real Estate Brokers
Hawaii Kai’s Real Estate Expert
384-9933

(In the past, I’ve seen many cases where owner-occupant homeowners are not getting their home exemption simply because they haven’t filed for it. If, on the form you received in the mail, you have zero home exemption and you think you might rate it, you should look into it and, possibly, save hundreds of dollars a year. This year it’s been raised from $80,000.00 to $100,000.00; if over age 65, from $120,000.00 to $140,000.00)

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Cherie Tsukamoto

December 23, 2019

Great advice and service, Dan!

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