Honolulu, Hawaii Property Taxes
The median property tax rate in Honolulu, HI is 1.17%, considerably higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Honolulu at $430,500, the typical annual property tax bill reaches $5,037, exceeding the national median of $2,690. Property taxes in Honolulu 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 Honolulu'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 Honolulu 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
Honolulu, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$5,037
Ownwell’s Honolulu Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Honolulu with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Honolulu 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 Honolulu, Hawaii
Property taxes in Honolulu, Hawaii, are essential for funding crucial local services such as public schools, road maintenance, and emergency services. The median tax rate in Honolulu is 0.35%, significantly lower than both the Hawaii state median of 0.28% and the U.S. national median of 0.99%. Local government entities within Honolulu set these rates annually, and they can vary significantly across different neighborhoods. Each year, Honolulu 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 Honolulu's effective property tax rate to other counties in Hawaii and the national median. For comparison, the 96740 zip code has the highest median property tax rate of 0.45%, while the 96816 zip code has the lowest median tax rate of 0.28%. Understanding how these cities compare with Honolulu provides valuable insights into the varying tax landscape across Hawaii, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Honolulu Tax Rate
1.17%
Average Hawaii County Tax Rate
0.35%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Honolulu, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96720 | N/A | N/A | N/A | N/A | N/A |
| 96740 | 1.23% | 1.23% | 1.23% | 1.23% | 1.23% |
| 96813 | 0.33% | 0.33% | 0.33% | 0.33% | 0.33% |
| 96816 | 0.45% | 0.45% | 0.45% | 0.45% | 0.45% |
| 96826 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Honolulu, Hawaii
In Honolulu, 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 local authorities 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 Honolulu, 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 Honolulu helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. For example, the highest median tax bill in the city is $7,715 in zip code 96816, while the lowest is $1,303 in zip code 96813.
Average Honolulu Assessed Value
$430,500
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 Honolulu, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96720 | N/A | N/A | N/A | N/A | N/A |
| 96740 | $142,100 | $146,950 | $161,500 | $161,500 | $161,500 |
| 96813 | $389,800 | $389,800 | $389,800 | $389,800 | $389,800 |
| 96816 | $1,697,100 | $1,697,100 | $1,697,100 | $1,697,100 | $1,697,100 |
| 96826 | $632,800 | $632,800 | $632,800 | $632,800 | $632,800 |
Source: Ownwell
Property Tax Bills Across Honolulu, Hawaii
In Honolulu, property tax bills are calculated based on the assessed value of a home, which is determined by the city's property tax assessor. The assessed value is then multiplied by the local tax rate to determine the annual tax bill. Factors such as the home's location, size, and market conditions can influence its assessed value. For example, the median home price in Honolulu is $430,500. Homeowners in this city can expect varying tax bills. At the 25th percentile, property tax bills are around $3,405, while at the 75th percentile, they rise to approximately $6,048. The 90th percentile tax bill can go up to $7,404. These figures show significant variation, indicating that location and property characteristics play a crucial role. For instance, the highest median tax bill in Honolulu is $7,715 in the 96816 zip code, whereas the lowest is $1,303 in the 96813 zip code. Understanding these factors helps homeowners anticipate their financial obligations and plan accordingly.
Average Honolulu Tax Bill
$5,037
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Honolulu, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96720 | N/A | N/A | N/A | N/A | N/A |
| 96740 | $1,745 | $1,805 | $1,984 | $1,984 | $1,984 |
| 96813 | $1,303 | $1,303 | $1,303 | $1,303 | $1,303 |
| 96816 | $7,715 | $7,715 | $7,715 | $7,715 | $7,715 |
| 96826 | $7,404 | $7,404 | $7,404 | $7,404 | $7,404 |
Source: Ownwell