Here is an article in Maui Now today giving more detail on this new bill: Maui Mayor Signs Bill Supporting Tax Relief for Kama‘āina Families with Ancestral Land | Maui Now
“Maui Mayor Michael Victorino has signed Bill 118, also known as the ʻAina Kūpuna bill, that establishes a mechanism to provide long-time Maui families with tax relief for inherited real property in a Special Management Area.
Introduced by Maui County Council Vice-Chair Keani Rawlins-Fernandez, the bill aims to protect kamaʻāina from being taxed out of family land due to real estate speculation by outside investors.
“I am in strong support of tax protection for our long-time Maui families,” said Mayor Victorino. “At the same time, I am recommending further review of the Maui County Code to determine if there are unintended consequences that may threaten the viability of this tax relief program. I believe the program should be limited to properties granted the exemption through Dec. 31, 2022 and that the exemption be lifted upon conveyance to a non-descendant or conversion of the land to commercial use as defined in the bill.”
Mayor Victorino thanks the Maui County Council for passing legislation to protect the financial stability of island families with ancestral ties to their land. The exemption is available to real property, owned in whole or in part, by a lineal descendant of a landowner for at least 80 years prior to the application. The land dedication would be in force for 10-year periods, during which time it could not be sold to a non-lineal descendant.”
You can go to www.MauiPropertyTax.com for the forms and instructions.
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