Holualoa, Hawaii Property Taxes
The median property tax rate in Holualoa, HI is 0.38%, considerably higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Holualoa at $636,900, the typical annual property tax bill reaches $3,406, exceeding the national median of $2,690. Property taxes in Holualoa 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 Holualoa'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 Holualoa 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
Holualoa, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.38%
Estimate Property Tax Bill
$2,420
$2,246
Ownwell's Holualoa Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, or potential buyers to estimate their annual property taxes in Holualoa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Holualoa 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 Holualoa, Hawaii
Property taxes in Holualoa, Hawaii, are essential for funding critical local services such as public schools, road maintenance, and emergency services. The median tax rate in Holualoa is 0.38%, which is significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Holualoa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Holualoa 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 Holualoa's effective property tax rate to other counties in Hawaii and the national median. For comparison, the highest median property tax rate within the state is found in zip code 96720 at 0.42%, while zip code 96725 has the lowest median tax rate of 0.34%. Understanding how these areas compare with Holualoa provides valuable insights into the varying tax landscape across Hawaii County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Holualoa Tax Rate
0.38%
Average Hawaii County Tax Rate
0.35%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Holualoa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96725 | 0.18% | 0.28% | 0.38% | 0.91% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Holualoa, Hawaii
In Holualoa, 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 Hawaii 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 Holualoa, 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. For instance, the median home price in Holualoa is $636,900, with tax bills ranging from $1,570 at the 25th percentile to $6,874 at the 90th percentile. The highest and lowest median tax bills are both $3,406 in zip code 96725. Being aware of these valuation processes in Holualoa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Holualoa Assessed Value
$636,900
Average Hawaii County Assessed Value
$412,300
Average Hawaii Assessed Value
$781,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Holualoa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96725 | $349,800 | $373,700 | $636,900 | $922,600 | $1,241,200 |
Source: Ownwell
Property Tax Bills Across Holualoa, Hawaii
In Holualoa, property tax bills are calculated based on the assessed value of a property, which is determined by the local tax assessor. The assessed value is a percentage of the market value, reflecting various factors such as location, property size, and improvements. Holualoa's property tax rate is influenced by Hawaii County's needs for public services, schools, and infrastructure. Homeowners in Holualoa typically see a range of property tax bills. For instance, the 25th percentile tax bill is around $1,570, while the 75th percentile reaches up to $4,413. At the higher end, the 90th percentile tax bill can be as much as $6,874. With a median home price of $636,900, Holualoa's property tax bills can significantly impact homeowners' annual expenses. Comparatively, the national median property tax rate is 0.99%, making Holualoa's property tax bills noteworthy. Homeowners must consider these taxes when budgeting for their real estate investments, as they contribute to the overall cost of owning a home in this scenic Hawaiian locale.
Average Holualoa Tax Bill
$3,406
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Holualoa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96725 | $802 | $1,570 | $3,406 | $4,413 | $6,874 |
Source: Ownwell