Galveston, Hawaii Property Taxes
The median property tax rate in Galveston, HI is 0.11%, significantly lower than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Galveston at $1,135,500, the typical annual property tax bill amounts to $1,270, which is below the national median of $2,690. Property taxes in Galveston 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 Galveston'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 Galveston 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
Galveston, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.11%
Estimate Property Tax Bill
$1,249
$1,159
Ownwell’s Galveston Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Galveston with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Galveston 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 Galveston, Hawaii
Property taxes in Galveston, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Galveston is 0.11%, significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Galveston set these rates annually, and they can vary significantly across different neighborhoods. Each year, Galveston 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 Galveston's effective property tax rate to other counties in Hawaii and the national median. For comparison, the highest median property tax rate in the state is 0.46%, while the lowest median tax rate is 0.11%. Understanding how these cities compare with Galveston provides valuable insights into the varying tax landscape across Kauai, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Galveston Tax Rate
0.11%
Average Kauai County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Galveston, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77554 | 0.11% | 0.11% | 0.11% | 0.11% | 0.11% |
Source: Ownwell
Property Tax Assessment Values Across Galveston, Hawaii
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Galveston, Hawaii. 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 Kauai 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 Galveston, 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 zip code 77554 has the highest and lowest median tax bill, both at $1,270. 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 Galveston helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden.
Property Tax Assessment Values Across Galveston, Hawaii
Source: Ownwell
$594,500
$11,734,750
$22,875,000
Average Galveston Assessed Value
$1,135,500
Average Kauai County Assessed Value
$795,200
Average Hawaii Assessed Value
$781,500
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Galveston, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77554 | $1,135,500 | $1,135,500 | $1,135,500 | $1,135,500 | $1,135,500 |
Source: Ownwell
Property Tax Bills Across Galveston, Hawaii
In Galveston, property tax bills are calculated based on the assessed value of the property, which is determined by the local tax assessor. The assessed value is a percentage of the market value of the home. This value is then multiplied by the local tax rate to determine the annual property tax bill. Factors such as property location, size, and improvements can influence the assessed value. For homeowners in Galveston, the median home price is $1,135,500. The property tax rate in Kauai County is relatively low compared to the national median property tax rate of 0.99%. As a result, the median property tax bill in Galveston is $1,270. This consistent tax bill indicates a stable property tax environment, which can be beneficial for budgeting and financial planning. Homeowners in this region can expect their property tax bills to be predictable, helping them manage their expenses more efficiently.
Average Galveston Tax Bill
$1,270
Average Kauai County Tax Bill
$2,304
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Galveston, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 77554 | $1,270 | $1,270 | $1,270 | $1,270 | $1,270 |
Source: Ownwell