Condo Bill Passes; AOAO To Report Usage

Aloha Kakou:

On September 3, the Maui County Council passed a bill which required condo associations to report to the county Finance Director the way in which each unit is being utilized, either as a residence, or as a short term or long term rental.

The bill was a compromise from the initial proposal which would have taxed condo units based on the zoning of the condo property. The proposed taxation, otherwise known as "highest and best use", is the method by which all other property on Maui is taxed.

The county Finance Director believes that currently the county is losing $8.5 million in tax revenue due to incorrect reporting of use.

http://mauinews.com/page/content.detail/id/540022/Council-OKs-condominium-tax-rates-bill.html?nav=10