Kailua, Hawaii Property Taxes
The median property tax rate in Kailua, HI is 0.30%, slightly higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Kailua at $1,436,000, the typical annual property tax bill reaches $4,526, surpassing the national median of $2,690. Property taxes in Kailua are calculated based on the tax assessed value, which typically falls below the market value due to various exemptions like the primary residence and agricultural exemptions. Understanding Kailua'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 Kailua 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
Kailua, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.3%
Estimate Property Tax Bill
$4,308
$3,998
Ownwell’s Kailua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Kailua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Kailua 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 Kailua, Hawaii
Property taxes in Kailua, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Kailua is 0.30%, significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Kailua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Kailua 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 Kailua's effective property tax rate to other areas in Hawaii and the national median. For comparison, the highest median property tax rate in the region is found in zip code 96822 with a rate of 0.35%, while the lowest median tax rate is in zip code 96795 at 0.25%. Understanding how these areas compare with Kailua 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 Kailua Tax Rate
0.30%
Average Honolulu County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Kailua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96734 | 0.26% | 0.28% | 0.30% | 0.33% | 0.56% |
Source: Ownwell
Property Tax Assessment Values Across Kailua, Hawaii
In Kailua, 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 authorities 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. Assessment notices in Kailua 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 Kailua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the zip code 96734 has both the highest and lowest median tax bills, each at $4,526.
Average Kailua Assessed Value
$1,436,000
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 Kailua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96734 | $773,560 | $1,191,700 | $1,436,000 | $1,769,625 | $2,313,260 |
Source: Ownwell
Property Tax Bills Across Kailua, Hawaii
In Kailua, located in Honolulu County, property tax bills are calculated based on the assessed value of the property. Unlike many regions, Hawaii's property tax rate is relatively low, with Honolulu County having a median property tax bill of $4,526. This is significantly lower than the national median property tax rate of 0.99%. The assessed value is determined by the county assessor and reflects the market value of the property. Several factors influence the tax bill, including the property's location, size, and any improvements made. For homeowners in Kailua, the 25th percentile tax bill is $3,464, while those in the 75th percentile pay around $6,367. At the higher end, the 90th percentile tax bill reaches $9,556. These figures illustrate the range of property tax bills homeowners can expect, depending on their property's assessed value. Understanding these factors is crucial for homeowners as they directly impact annual expenses. Lower property taxes in Kailua can make homeownership more affordable compared to other parts of the country.
Average Kailua Tax Bill
$4,526
Average Honolulu County Tax Bill
$2,420
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Kailua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96734 | $2,153 | $3,464 | $4,526 | $6,367 | $9,556 |
Source: Ownwell