How do I claim an Oahu Home Exemption?
If you purchased a new home in the past year, don't forget to claim your Oahu Home Exemption by Sept. 30 to avoid paying a higher property tax rate.
The current basic homeowner exemption for the City and County of Honolulu is $100,000 (for homeowners younger than 65 years). That means when your property's value is assesed, $100,000 will be deducted from the assesed value and you will be taxed on the balance. For example, if your home was assesed at $600,000, after your Home Exemption claim, the total taxable amount would be $500,000.
Homeowners 65 years and older (on or before June 30 of the last tax year) may claim a deduction of $140,000.
It's best to file your Oahu Home Exemption Claim within the first 90 days of purchasing your home so you don't forget; however, you have until September 30 to file.
This is a "one-and-done" claim, so once you've claimed your exemption, you don't need to do so each year (unless you move).
Who qualifies for an Oahu home exemption?
Most first-time homebuyers will qualify for a home exemption.
To qualify, you must:
- You own and occupy the property as your main home (that means you must live there for 270 days out of the calendar year)
- Your ownership is recorded at the Bureau of Conveyances, State Department of Land and Natural Resources, in Honolulu on or before Sept. 30 of the precdeing tax year for which you claim the exemption.
- You file a claim for home exemption (Form P-3) with the Real Property Assessment Division on or before Sept. 30 preceding the tax year for which you claim the exemption.
What do I need to file for an Oahu home exemption?
To save you some time, you'll also need these items handy:
- 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
What happens if I miss the Sept. 30 deadline?
If the Sept. 30 deadline is missed, you will have until Nov. 15 to file late. There is also a $500 penatly for filing late. Read the details of filing late here.
For more information, please visit the City and County of Honolulu website.
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