Waikoloa, Hawaii Property Taxes
The median property tax rate in Waikoloa, HI is 0.47%, higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Waikoloa at $570,300, the typical annual property tax bill reaches $3,195, surpassing the national median of $2,690. Property taxes in Waikoloa 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 Waikoloa'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 Waikoloa 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
Waikoloa, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.47%
Estimate Property Tax Bill
$2,680
$2,487
Ownwell’s Waikoloa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waikoloa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waikoloa 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 Waikoloa, Hawaii
Property taxes in Waikoloa, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waikoloa is 0.47%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Waikoloa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waikoloa 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 Waikoloa's effective property tax rate to other counties in Hawaii and the national median. For comparison, the 96738 zip code has the highest median property tax rate of 0.47%, while the same zip code also has the lowest median tax rate of 0.47%. Understanding how these cities compare with Waikoloa 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 Waikoloa Tax Rate
0.47%
Average Hawaii County Tax Rate
0.35%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waikoloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96738 | 0.20% | 0.28% | 0.47% | 1.17% | 1.17% |
Source: Ownwell
Property Tax Assessment Values Across Waikoloa, Hawaii
In Waikoloa, 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 Real Property Tax Division 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 Waikoloa, 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 instance, the median home price in Waikoloa stands at $570,300, with tax bills ranging from $1,472 at the 25th percentile to $9,068 at the 90th percentile. The highest and lowest median tax bills both occur in the 96738 zip code, amounting to $3,195. By understanding these valuation concepts, property owners can better navigate their tax responsibilities and identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Average Waikoloa Assessed Value
$570,300
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 Waikoloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96738 | $295,700 | $429,525 | $570,300 | $741,800 | $873,900 |
Source: Ownwell
Property Tax Bills Across Waikoloa, Hawaii
Property tax bills in Waikoloa, located in Hawaii County, HI, are calculated based on the assessed value of the property, which is determined by the county assessor. This assessed value is then multiplied by the local tax rate to determine the annual tax bill. The median home price in Waikoloa is $570,300, and property tax rates here are relatively lower compared to the national median property tax rate of 0.99%. Homeowners in Waikoloa can expect their tax bills to vary significantly. For instance, tax bills at the 25th percentile are around $1,472, whereas those at the 75th percentile can reach up to $6,662. At the 90th percentile, tax bills can go as high as $9,068. The highest and lowest median tax bills in the area are both $3,195, found in the 96738 zip code. These property taxes fund essential public services like schools, infrastructure, and emergency services, directly impacting the quality of life for residents. Understanding these factors can help homeowners better anticipate their annual financial obligations.
Average Waikoloa Tax Bill
$3,195
Average Hawaii County Tax Bill
$1,619
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Waikoloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96738 | $828 | $1,472 | $3,195 | $6,662 | $9,068 |
Source: Ownwell