Mililani, Hawaii Property Taxes
The median property tax rate in Mililani, HI is 0.28%, slightly lower than the Hawaii state median of 0.29% and well below the national median of 0.99%. With a median home value of $966,800, the typical annual property tax bill in Mililani reaches $2,780, which is slightly above the national median of $2,690. Property taxes in Mililani are calculated based on the assessed value, which often falls below the market value due to exemptions such as the primary residence exemption. Understanding Mililani'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 Mililani 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
Mililani, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$2,707
Ownwell’s Mililani Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Mililani with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Mililani 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 Mililani, Hawaii
Property taxes in Mililani, Hawaii, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Mililani is 0.28%, significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Mililani set these rates annually, and they can vary significantly across different neighborhoods. Each year, Mililani 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 Mililani's effective property tax rate to other counties in Hawaii and the national median. For comparison, the highest median property tax rate in Honolulu County has the highest median property tax rate, while other areas within the county have varying rates. Understanding how these cities compare with Mililani 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 Mililani 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 Mililani, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96789 | 0.23% | 0.26% | 0.28% | 0.31% | 0.33% |
Source: Ownwell
Property Tax Assessment Values Across Mililani, Hawaii
In Mililani, 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 Mililani, 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 Mililani helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For instance, the zip code 96789 has both the highest and lowest median tax bills at $2,780.
Average Mililani Assessed Value
$966,800
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 Mililani, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96789 | $431,100 | $570,500 | $966,800 | $1,126,650 | $1,321,700 |
Source: Ownwell
Property Tax Bills Across Mililani, Hawaii
In Mililani, located in Honolulu County, HI, property tax bills are calculated based on the assessed value of a home, which is determined by the county assessor. The assessed value is then multiplied by the local property tax rate to determine the annual tax bill. Several factors influence the assessed value, including the home's size, age, location, and market conditions. For homeowners in Mililani, the tax bill can vary significantly. The 25th percentile tax bill is $1,536, while the 75th percentile tax bill reaches $3,319. At the 90th percentile, homeowners may see tax bills as high as $3,910. The median home price in Mililani is $966,800, which is considerably higher than the national median. Consequently, the property tax bills in this area can be a substantial financial consideration for homeowners, even with Hawaii's relatively low property tax rate compared to the national median of 0.99%. This highlights the importance of understanding how local property taxes are calculated and their potential impact on overall homeownership costs.
Average Mililani Tax Bill
$2,780
Average Honolulu County Tax Bill
$2,420
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Mililani, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96789 | $1,102 | $1,536 | $2,780 | $3,319 | $3,910 |
Source: Ownwell