Placentia, Hawaii Property Taxes
The median property tax rate in Placentia, HI is 0.32%, slightly higher than the state median of 0.29% but significantly lower than the national median of 0.99%. With the median home value in Placentia at $1,194,100, the typical annual property tax bill amounts to $3,851, which surpasses the national median of $2,690. Property taxes in Placentia are determined based on the tax assessed value, which often falls below the market value due to various exemptions such as the primary residence and agricultural exemptions. Understanding Placentia'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 Placentia or another part of the city, comprehending the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Placentia, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.32%
Estimate Property Tax Bill
$3,821
$3,546
Ownwell’s Placentia Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Placentia with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Placentia 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 Placentia, Hawaii
Property taxes in Placentia, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Placentia is 0.32%, which is significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Placentia set these rates annually, and they can vary significantly across different neighborhoods. Each year, Placentia 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 Placentia's effective property tax rate to other counties in Hawaii and the national median. For comparison, the highest median property tax rate in the region is found in zip code 96814 at 0.75%, while the lowest median tax rate is in zip code 96720 at 0.25%. Understanding how these cities compare with Placentia 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 Placentia Tax Rate
0.32%
Average Hawaii County Tax Rate
0.35%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Placentia, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92870 | 0.32% | 0.32% | 0.32% | 0.32% | 0.32% |
Source: Ownwell
Property Tax Assessment Values Across Placentia, Hawaii
In Placentia, 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 Placentia, 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. For example, Placentia's median home price is $1,194,100, and the median tax bill is $3,851, with the highest and lowest median tax bills both recorded in the 92870 zip code at $3,851. 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 Placentia helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Placentia Assessed Value
$1,194,100
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 Placentia, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92870 | $1,194,100 | $1,194,100 | $1,194,100 | $1,194,100 | $1,194,100 |
Source: Ownwell
Property Tax Bills Across Placentia, Hawaii
In Placentia, Hawaii County, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. This assessed value is then multiplied by the property tax rate to determine the annual tax bill. For homeowners in Placentia, the median home price is $1,194,100, and the property tax rate is in line with the county's standards. Several factors influence the tax bill, including the property's location, size, and condition. Homeowners can expect a median tax bill of $3,851. This figure remains consistent across various percentiles, indicating a stable tax environment within this region. Compared to the national median property tax rate of 0.99%, Placentia's tax bills reflect the higher property values in the area. For homeowners, understanding these factors is crucial as property taxes significantly impact annual expenses. Accurate knowledge of how tax bills are calculated helps homeowners budget effectively and consider any potential exemptions or appeals.
Average Placentia Tax Bill
$3,851
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Placentia, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 92870 | $3,851 | $3,851 | $3,851 | $3,851 | $3,851 |
Source: Ownwell