Seattle, Hawaii Property Taxes
The median property tax rate in Seattle, HI is 1.17%, significantly higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Seattle at $237,600, the typical annual property tax bill reaches $2,780, surpassing the national median of $2,690. Property taxes in Seattle are calculated based on the tax assessed value, which often falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Seattle'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 Seattle 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
Seattle, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
1.17%
Estimate Property Tax Bill
$2,780
$2,580
Ownwell’s Seattle Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Seattle with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Seattle 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 Seattle, Hawaii
Property taxes in Seattle, Hawaii, are crucial for funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Seattle is 1.17%, higher than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Seattle set these rates annually, and they can vary significantly across different neighborhoods. Each year, Seattle 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 Seattle's effective property tax rate to other counties in Hawaii and the national median. For comparison, the 98108 zip code has the highest median property tax rate of 1.17%, while the same zip code also has the lowest median tax rate of 1.17%. Understanding how these areas compare with Seattle 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 Seattle 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 Seattle, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98108 | 1.17% | 1.17% | 1.17% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Seattle, Hawaii
In Seattle, 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 Seattle, 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 Seattle helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The zip code with the highest median tax bill is 98108, with a tax bill of $2780, which is also the lowest median tax bill for the area.
Average Seattle Assessed Value
$237,600
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 Seattle, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98108 | $237,600 | $237,600 | $237,600 | $237,600 | $237,600 |
Source: Ownwell
Property Tax Bills Across Seattle, Hawaii
In Seattle, 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 tax rate to determine the annual tax bill. For Seattle homeowners, the median home price stands at $237,600. The median property tax bill in the area is $2,780, which is significantly higher than the national median property tax rate of 0.99%. Factors influencing the tax bill include the property's assessed value, local tax rates, and any applicable exemptions or deductions. Homeowners in Seattle face a uniform tax bill, with the 25th, 75th, and 90th percentiles all reporting the same amount of $2,780. This consistency indicates a standardized approach to property tax assessments in the area. The highest and lowest median tax bills are also recorded at $2,780 in the 98108 zip code. Such property tax rates can significantly impact homeowners, affecting their annual budgeting and overall financial planning.
Average Seattle Tax Bill
$2,780
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Seattle, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 98108 | $2,780 | $2,780 | $2,780 | $2,780 | $2,780 |
Source: Ownwell