The Real Property Tax Assessment office announces that property owners who were previously denied the 3 percent Assessment Cap for Home Exemption due to a transfer of title may now retroactively adjust their 2017 assessments pursuant to Kauai County Ordinance 1015.
The County Council enacted Ord. 1015 in August 2017, which allows property owners who were previously ineligible for the 3 percent cap due to a transfer of title to receive a retroactive real property tax adjustment for the 2017 tax year.
The ordinance further requires that affected property owners notify the Real Property Tax Division of the transfer on or before September 30, 2017 to effectuate any adjustments to their 2017 assessments.
The affected properties include principal residences where the owner(s) transferred their interests to a revocable living trust, their spouse, a surviving spouse, or a life estate but still claim the property as their primary residence and have maintained a home exemption in both 2016 and 2017.
It is the sole responsibility of the affected property owner to notify the Real Property Tax Division of any adjustment request.
Info: Real Property Assessment office, 241-4224.