A property owner in Maui County believes the county has over-assessed her residential property and wants to challenge the assessment. She disagrees with the assessed value set by the Maui Real Property Assessment Division. What is the proper first step in the formal appeal process under Hawaii county real property tax law?
Correct Answer
C) File an appeal with the county Board of Review within the prescribed deadline
Under Hawaii county real property tax law (HRS Chapter 246), a property owner who disagrees with an assessment must first file an appeal with the county Board of Review (also called the Real Property Tax Board of Review) within the deadline specified on the assessment notice — typically within 30 days of the notice of assessment. The Board of Review conducts an informal hearing and issues a decision. Only after exhausting the Board of Review process may the owner appeal to the Hawaii Tax Appeal Court.
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Related Topics & Key Terms
Key Terms:
Related Concepts
The comparable sales approach estimates a property's value by comparing it to similar properties that have recently sold in the same market area. It is the most widely used and reliable approach for appraising residential properties.
The cost approach estimates a property's value by calculating the current cost to rebuild the improvements, subtracting accumulated depreciation, and adding the land value. It is most reliable for new construction and special-purpose properties.
Depreciation is an accounting method of allocating the cost of an asset over its useful life, allowing investors to deduct a portion of the asset's cost each year.
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