Makawao, Hawaii Property Taxes
The median property tax rate in Makawao, HI is 0.18%, significantly lower than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Makawao at $190,900, the typical annual property tax bill is $336, well below the national median of $2,690. Property taxes in Makawao are calculated based on the tax assessed value, which often falls below the market value due to various exemptions, including those for primary residences and agricultural properties. Understanding Makawao's property tax system, exploring available exemptions, and identifying opportunities for reductions can lead to substantial annual savings. Whether you're in the heart of Makawao 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
Makawao, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.18%
Estimate Property Tax Bill
$344
Ownwell’s Makawao Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Makawao with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Makawao 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 Makawao, Hawaii
Property taxes in Makawao, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Makawao is 0.18%, significantly lower than both the Hawaii state median of 0.28% and the U.S. national median of 0.99%. Local government entities within Makawao set these rates annually, and they can vary significantly across different neighborhoods. Each year, Makawao 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 Makawao's effective property tax rate to other counties in Hawaii and the national median. For comparison, 96708 has the highest median property tax rate of 0.20%, while 96768 has the lowest median tax rate of 0.15%. Understanding how these cities compare with Makawao 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 Makawao Tax Rate
0.18%
Average Hawaii County Tax Rate
0.35%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Makawao, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96768 | 0.18% | 0.18% | 0.18% | 0.18% | 0.18% |
Source: Ownwell
Property Tax Assessment Values Across Makawao, Hawaii
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Makawao, Hawaii. 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 local appraisal authority 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 Makawao, 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 Makawao is $190,900, with the highest and lowest median tax bills both being $336 in the zip code 96768. Being aware of these valuation processes helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Makawao Assessed Value
$190,900
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 Makawao, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96768 | $190,900 | $190,900 | $190,900 | $190,900 | $190,900 |
Source: Ownwell
Property Tax Bills Across Makawao, Hawaii
In Makawao, located in Hawaii County, property tax bills are calculated based on the assessed value of the home and the applicable tax rate. The assessed value is determined by the county's property assessor and typically reflects the market value of the property. Hawaii has a relatively low property tax rate compared to the national median of 0.99%. In Makawao, homeowners experience a consistent median tax bill of $336, which is significantly lower than the national average. The tax bill is influenced by several factors, including the property's assessed value, any applicable exemptions, and the local tax rate. Homeowners in Makawao benefit from this lower tax burden, which can make homeownership more affordable compared to other regions. This relatively modest tax bill can be especially advantageous for those on fixed incomes or for families budgeting for other expenses. By maintaining a lower property tax rate, Makawao supports a more financially manageable environment for its residents.
Average Makawao Tax Bill
$336
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Makawao, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96768 | $336 | $336 | $336 | $336 | $336 |
Source: Ownwell