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SEPT. 30 DEADLINE FOR TAX CREDIT/HOME EXEMPTIONS

 

 

The filing deadline for the real property county tax credit and home exemptions for Tax Year  2011-2012 is September 30, 2010.  The county tax credit and home exemptions provide real property tax relief for those homeowners who meet certain criteria.

 

County Tax Credit

 

The county tax credit can reduce the real property tax for a homeowner and is based on the combined income of all titleholders, which cannot exceed $50,000.  The county tax credit must be applied for annually and the tax credit is equal to the amount of the real property tax that exceeds a percentage of the combined titleholders' income as shown below.

 

COUNTY TAX CREDIT FOR TAX YEAR  2011-2012

Tax Credit Amount

Age                                               Requirement

Income And Other                        Requirements

Filing Requirements

Filing                                    Form

Tax that exceeds 4% of the titleholders' income

Age 74 or under as of June 30, 2011

Combined income of all titleholders cannot exceed $50,000.

 

The owner has been granted the home exemption under Section 8-10.4 at the time the application is filed.

 

The titleholders cannot own other real property anywhere.

 

None of the titleholders have violated ROH Section 8-13.5.

You must file annually to receive the tax credit.

T-RPT100

Tax that exceeds 3% of the titleholders' income

Age 75 and over as of June 30, 2011

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

To apply or for questions and assistance regarding the county tax credit, please contact:

 

TAX RELIEF SECTION

Department of Budget and Fiscal Services

Division of Treasury

 715 South King Street, Room 505

Honolulu, HI 96813

 

Telephone:  (808) 768-3205

 

Applications and instructions are available at the Division of Treasury, all satellite city halls, and on-line at http://www.honolulu.gov/budget/treasury_division.htm.

Home Exemption And In Lieu Of Home Exemption

 

The home exemption and in lieu of home exemption can also reduce the real property tax for homeowners and requires that the property is their principal home.  The exemption amount is deducted from the property value before the calculation of the real property tax.   

 

If you apply and qualify for the home exemption, it will continue annually unless there is a change in the status such as ownership, occupation or use of the property.  If you received the $80,000 home exemption amount for Tax Year 2010-2011, your date of birth is on file at the Real Property Assessment Division and you will be age 65 as of June 30, 2011, you do not have to re-file and will automatically receive the $120,000 home exemption for Tax Year 2011-2012.

 

HOME EXEMPTION FOR TAX YEAR 2011-2012

Exemption Amount

Age                                                     Category

Income                        Requirement

Filing Requirements

Filing                                    Form

80,000

Age 64 or under as of June 30, 2011.

None

Once the exemption is granted, you do not have to re-file unless there is a change in the status that affects the exemption.

 

BFS-RP-P-3

120,000

Age 65 or over as of June 30, 2011.

None

 

 

For the in lieu of home exemption, you must have applied and qualified for the home exemption.  There is also an income requirement based on the total household income.  Once this exemption is granted, it will continue annually until you reach the end of an age category, then you must re-file for the next age category. 

 

IN LIEU OF HOME EXEMPTION FOR TAX YEAR 2011-2012

Exemption                    Amount

Age                                                                                    Category

Income                                                   Requirement

Filing Requirements

Filing                                    Form

$140,000

Age 75 to 79                 as of June 30, 2011.

Qualifies as Low-Income                Household

Once the exemption is granted and there is no change in the status that affects the exemption, it will continue annually until you reach age 79, then you must re-file for the next age category.

BFS-RP-P-4

$160,000

Age 80 to 84            as of June 30, 2011.

Qualifies as Low-Income                Household

Once the exemption is granted and there is no change in the status that affects the exemption, it will continue annually until you reach age 84, then you must re-file for the next age category.

$180,000

Age 85 to 89                 as of June 30, 2011.

Qualifies as Low-Income                Household

Once the exemption is granted and there is no change in the status that affects the exemption, it will continue annually until you reach age 89, then you must re-file for the next age category.

$200,000

Age 90 or over     as of June 30, 2011.

Qualifies as Low-Income                Household

Once the exemption is granted and there is no change in the status that affects the exemption, it will continue annually.

 

 

To apply or if you have questions or require assistance regarding the home exemption or in lieu of home exemption, please contact:

 

Real Property Assessment Division

842 Bethel Street, Basement

Honolulu, HI  96813

Telephone:  (808) 768- 3799

 

OR

 

Real Property Assessment Division

1000 Uluohia Street, #206

Kapolei, HI  96707

Telephone:  (808) 768-3169

 

 

Applications and instructions are available at the Real Property Assessment Division, all satellite city halls, and on-line at www.honolulu.gov/rpa.