Kaaawa, Hawaii Property Taxes
The median property tax rate in Kaaawa, HI is 0.28%, slightly below the state median of 0.29% but still noteworthy given the region's high property values. With a median home value of $1,038,600, the typical annual property tax bill in Kaaawa reaches $2,844, which is above the national median of $2,690. Property taxes here are calculated based on the assessed value, which often falls below the market value thanks to various exemptions, such as those for primary residences and agricultural properties. Understanding Kaaawa'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 Kaaawa or another part of the city, grasping the local property tax system will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Kaaawa, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.28%
Estimate Property Tax Bill
$2,908
$2,699
Ownwell’s Kaaawa Property Tax Bill Calculator is an essential tool for homeowners, real estate investors, and potential buyers looking to estimate their annual property taxes in Kaaawa. By simply entering your property's estimated assessed value, the calculator uses the median tax rate in Kaaawa to provide an accurate estimate of your property tax bill. This valuable tool offers a clear understanding of potential tax liabilities, allowing you to plan your finances more effectively. For those interested in more detailed insights, you can explore trends at the neighborhood level by scrolling down. Your property’s assessed value is determined by Honolulu County for tax purposes, taking into account any applicable exemptions.
Property Tax Rates Across Kaaawa, Hawaii
Property taxes in Kaaawa, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kaaawa is 0.28%, significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Kaaawa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kaaawa 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. Understanding how Kaaawa's effective property tax rate compares to other regions provides valuable insights into the varying tax landscape across Honolulu County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Kaaawa Tax Rate
0.28%
Average Honolulu County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kaaawa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96730 | 0.23% | 0.25% | 0.28% | 0.32% | 0.46% |
Source: Ownwell
Property Tax Assessment Values Across Kaaawa, Hawaii
In Kaaawa, 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 Honolulu 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 Kaaawa, 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 Kaaawa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The highest and lowest median tax bills in Kaaawa both stand at $2,844, reflecting a balanced tax assessment across the region.
Average Kaaawa Assessed Value
$1,038,600
Average Honolulu County Assessed Value
$887,100
Average Hawaii Assessed Value
$781,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Kaaawa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96730 | $371,700 | $647,700 | $1,038,600 | $1,271,200 | $1,489,060 |
Source: Ownwell
Property Tax Bills Across Kaaawa, Hawaii
In Kaaawa, Honolulu County, HI, 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 assessor and reflects the market value of the property. Homeowners in Kaaawa face a median home price of $1,038,600. The tax rate in Honolulu County is applied to this assessed value to calculate the annual tax bill. Several factors influence the final tax bill, including property size, location, and any applicable exemptions. For instance, tax bills in Kaaawa can range significantly, with the 25th percentile at $1,975 and the 90th percentile reaching up to $5,480. The median tax bill in the area is $2,844, which is relatively moderate compared to the national median property tax rate of 0.99%. These property taxes play a crucial role in funding local services such as schools, infrastructure, and emergency services, directly impacting the quality of life for homeowners in Kaaawa.
Average Kaaawa Tax Bill
$2,844
Average Honolulu County Tax Bill
$2,420
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Kaaawa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96730 | $960 | $1,975 | $2,844 | $3,672 | $5,480 |
Source: Ownwell