As discussed in our Blog on Wednesday, the County Council was mulling a decrease in home owner property taxes. Wedensday night, the county council confirmed that they would be reducing homeowner property taxes to a rate of $3.50 per $1000 of assesed value and will increase the homeowners exemption to $200,000. In terms of other home owner related items, the county approved $400,000 for a new Maui first time home buyer’s loan program. For additional information on the new County budget, check out this article from the Maui News.
