Aiea, Hawaii Property Taxes
The median property tax rate in Aiea, HI is 0.28%, slightly lower than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Aiea at $963,050, the typical annual property tax bill reaches $2,521, which is just under the national median of $2,690. Property taxes in Aiea are calculated based on the tax assessed value, often lower than the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Aiea'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 Aiea 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
Aiea, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$2,697
Ownwell’s AIEA Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in AIEA with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in AIEA 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 Aiea, Hawaii
Property taxes in Aiea, Hawaii, are essential for funding crucial local services, including public schools, road maintenance, and emergency services. The median tax rate in Aiea is 0.28%, significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Aiea set these rates annually, and they can vary across different neighborhoods. Each year, Aiea 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 Aiea's effective property tax rate to other counties in Hawaii and the national median. For comparison, the highest median property tax rate in the area is considerably higher, while the lowest median tax rate is also lower. Understanding how these cities compare with Aiea provides valuable insights into the varying tax landscape across Honolulu County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Aiea Tax Rate
0.28%
Average Honolulu County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Aiea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96701 | 0.22% | 0.25% | 0.28% | 0.30% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Aiea, Hawaii
In Aiea, 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 Honolulu 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 Aiea, 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 Aiea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code 96701 has the highest and lowest median tax bill at $2,521, reflecting the uniformity in tax assessments across the area.
Average Aiea Assessed Value
$963,050
Average Honolulu County Assessed Value
$887,100
Average Hawaii Assessed Value
$781,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Aiea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96701 | $383,500 | $505,200 | $963,100 | $1,202,000 | $1,398,100 |
Source: Ownwell
Property Tax Bills Across Aiea, Hawaii
In Aiea, located in Honolulu County, HI, property tax bills are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local property tax rate to determine the annual tax bill. In Aiea, the property tax rate is relatively low compared to the national median of 0.99%. Several factors influence the assessed value, including the market value of similar properties in the area, the size and condition of the property, and any improvements or renovations. For example, the median home price in Aiea is $963,050, and the property tax bills can vary significantly. Homeowners in the 25th percentile pay around $1,357, while those in the 75th percentile pay up to $3,380. The top 10% of properties see tax bills as high as $4,214. These property taxes are essential for funding local services such as schools, public safety, and infrastructure, directly impacting the quality of life for Aiea residents.
Average Aiea Tax Bill
$2,521
Average Honolulu County Tax Bill
$2,420
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Aiea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96701 | $1,002 | $1,357 | $2,521 | $3,380 | $4,214 |
Source: Ownwell