LIHU‘E — A bill recently passed by the Kaua‘i County Council and signed into law by Mayor Bernard Carvalho Jr. allows the owners of long-term affordable rental units that missed an annual filing deadline to apply for a tax cap
LIHU‘E — A bill recently passed by the Kaua‘i County Council and signed into law by Mayor Bernard Carvalho Jr. allows the owners of long-term affordable rental units that missed an annual filing deadline to apply for a tax cap on their respective properties, a county news release states.
To qualify for the tax cap reset, the following criteria must be met:
— Property must have been previously approved as a long-term affordable rental and used as such during the period in which the filing lapse occurred.
— Ownership of the property must be the same as when the long-term affordable lease was initially approved.
— Applicants must provide supporting documents along with a completed application for each long-term affordable rental unit, including an executed lease for the time period when the lapse occurred and tax returns that show the rental income generated from the property meets the established affordable rental threshold.
The deadline to submit an application is Jan. 31.
The tax cap reset application is available at the Real Property Assessment office located next to the Motor Vehicle Registration office at the Lihu‘e Civic Center.
The form is also downloadable from www.kauai.gov.
For more information, call 241-4224.
