Hanalei, Hawaii Property Taxes
The median property tax rate in Hanalei, HI is 0.62%, considerably higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Hanalei at $1,514,900, the typical annual property tax bill reaches $6,980, exceeding the national median of $2,690. Property taxes in Hanalei are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Hanalei's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to significant annual savings. Whether you're in the heart of Hanalei or another part of the city, understanding the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Hanalei, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.62%
Estimate Property Tax Bill
$9,392
Ownwell’s Hanalei Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Hanalei with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Hanalei to estimate your property tax bill. This insightful tool helps you understand potential tax liabilities. If you’re interested in seeing trends on a neighborhood level, scroll down to find more localized information. Your property’s assessed value is the value assigned by the county for property tax calculations, accounting for any exemptions that may apply.
Property Tax Rates Across Hanalei, Hawaii
Property taxes in Hanalei, Hawaii, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Hanalei is 0.62%, which is lower than the U.S. national median of 0.99%. Local government entities within Hanalei set these rates annually, and they can vary significantly across different neighborhoods. Each year, Hanalei estimates its required budget to maintain services for the upcoming fiscal year, then divides this budget by the total value of all taxable property within the jurisdiction to calculate the property tax rate. While tax rates and budgets are influenced by laws and voter input, this calculation forms the basis of setting property tax rates. The data below compares Hanalei's effective property tax rate to other counties in Hawaii and the national median. For comparison, the zip code 96714 has the highest median property tax rate of 0.62%, while the same zip code also holds the lowest median tax rate of 0.62%. Understanding how these cities compare with Hanalei provides valuable insights into the varying tax landscape across Kauai County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Hanalei Tax Rate
0.62%
Average Kauai County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Hanalei, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96714 | 0.15% | 0.47% | 0.62% | 0.98% | 0.99% |
| 96722 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Assessment Values Across Hanalei, Hawaii
In Hanalei, Hawaii, understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes. The market value is the price a willing buyer would pay a willing seller in an open and competitive market, influenced by factors like location, property condition, and economic trends. This value is estimated by the Kauai County Appraisal District for tax purposes. In contrast, the assessed value is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. In Hanalei, assessment notices are typically mailed out in the spring, usually by mid-April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. By understanding the distinction between these valuation concepts, property owners can better navigate their tax responsibilities and comprehend how their property taxes are determined. Being aware of these valuation processes in Hanalei helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Hanalei is $1,514,900, with annual tax bills ranging from $2,473 at the 25th percentile to $41,222 at the 90th percentile.
Average Hanalei Assessed Value
$1,514,900
Average Kauai County Assessed Value
$795,200
Average Hawaii Assessed Value
$781,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Hanalei, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96714 | $337,600 | $764,150 | $1,514,900 | $3,016,925 | $5,095,700 |
| 96722 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell
Property Tax Bills Across Hanalei, Hawaii
In Hanalei, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. For example, with a median home price of $1,514,900, homeowners can expect varying tax bills depending on their property's assessed value and specific tax rate. Factors such as property location, improvements, and market conditions play a crucial role in determining the assessed value. The tax bill can vary widely; the 25th percentile tax bill is around $2,473, while the 75th percentile reaches $23,051, and the 90th percentile can be as high as $41,222. This variability highlights the significant impact property assessments have on homeowners' annual expenses. When compared to the national median property tax rate of 0.99%, Hanalei's property tax structure can lead to substantial differences in tax burdens, affecting homeowners' financial planning and long-term investment in their properties.
Average Hanalei Tax Bill
$6,980
Average Kauai County Tax Bill
$2,304
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Hanalei, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96714 | $1,363 | $2,476 | $6,983 | $23,137 | $41,229 |
| 96722 | N/A | N/A | N/A | N/A | N/A |
Source: Ownwell