Waialua, Hawaii Property Taxes
The median property tax rate in Waialua, HI is 0.27%, slightly lower than both the national median of 0.99% and the Hawaii state median of 0.29%. With a median home value of $967,800 in Waialua, the typical annual property tax bill reaches $2,550, which is just below the national median of $2,690. Property taxes in Waialua 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 Waialua'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 Waialua 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
Waialua, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.27%
Estimate Property Tax Bill
$2,613
Ownwell’s Waialua Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waialua with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waialua 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 Waialua, Hawaii
Property taxes in Waialua, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waialua is 0.27%, lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Waialua set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waialua 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 Waialua's effective property tax rate compares to other regions within Honolulu County and the national median provides valuable insights into the varying tax landscape, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Waialua Tax Rate
0.27%
Average Honolulu County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waialua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96791 | 0.23% | 0.25% | 0.27% | 0.30% | 0.39% |
Source: Ownwell
Property Tax Assessment Values Across Waialua, Hawaii
In Waialua, 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 Waialua, 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 Waialua helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The median home price in Waialua is $967,800, with the highest and lowest median tax bills both at $2,550 in the 96791 zip code.
Average Waialua Assessed Value
$967,800
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 Waialua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96791 | $397,700 | $798,400 | $967,800 | $1,158,800 | $1,491,500 |
Source: Ownwell
Property Tax Bills Across Waialua, Hawaii
In Waialua, property tax bills are calculated based on the assessed value of the property, which is determined by the Honolulu County assessor. The assessed value is typically a percentage of the property's market value. Homeowners in Waialua can expect property tax bills to vary significantly, with the 25th percentile at $2,109 and the 75th percentile at $3,124. The 90th percentile tax bill can reach as high as $5,350, reflecting the diverse range of property values in the area. Several factors influence the property tax bill, including the property's location, size, and condition. Local tax rates and exemptions also play a crucial role. For instance, Waialua's median home price stands at $967,800, which significantly impacts the overall tax burden. Compared to the national median property tax rate of 0.99%, Waialua homeowners may find their tax bills relatively moderate or high, depending on their property's assessed value. This variability underscores the importance of understanding local tax regulations and potential exemptions to manage the financial impact on homeowners effectively.
Average Waialua Tax Bill
$2,550
Average Honolulu County Tax Bill
$2,420
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Waialua, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96791 | $1,145 | $2,109 | $2,550 | $3,124 | $5,350 |
Source: Ownwell