When a property tax exemption starts and how to renew it

Notwithstanding any provision in this chapter to the contrary, any real property which may be exempt from property taxes under Sec. 5A-11.20 shall qualify only upon the date when the regulatory agreement, mortgage or other encumbrance made by a qualified entity is filed for recording under the regular system or land court with the bureau of conveyances.The Director shall refer all claims for exemption to the Kaua'i County Housing Agency to determine eligibility, certify qualification for the exemption, and determine the term of the exemption which shall correspond with the duration of the primary recorded mortgage, regulatory agreement or other encumbrance made by a qualified entity. The Kaua'i County Housing Agency shall provide the director with its findings and a recommendation whether to grant or deny the exemption.The term of exemption may be extended or renewed when multiple recorded mortgages, regulatory agreements or other encumbrances extend beyond the initial term; provided that an additional claim for exemption, extension or renewal is filed with the Director prior to the end of the initial term.