Koloa, Hawaii Property Taxes
The median property tax rate in Koloa, HI is 0.78%, considerably higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Koloa, the typical annual property tax bill reaches $5,875, far exceeding the national median of $2,690. Property taxes in Koloa 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 Koloa'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 Koloa 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
Koloa, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.78%
Estimate Property Tax Bill
$7,560
$7,015
Ownwell’s Koloa Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Koloa with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Koloa 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 Koloa, Hawaii
Property taxes in Koloa, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Koloa is 0.78%, which is higher than the U.S. national median of 0.99%. Local government entities within Koloa set these rates annually, and they can vary significantly across different neighborhoods. Each year, Koloa 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 Koloa's effective property tax rate to other areas in Kauai County and the national median. For comparison, the 96756 zip code has the highest median property tax rate of 0.78%, while the 96741 zip code has the lowest median tax rate of 0.46%. Understanding how these areas compare with Koloa provides valuable insights into the varying tax landscape across Kauai County, helping homeowners gain a clearer picture of their property tax obligations relative to neighboring areas.
Average Koloa Tax Rate
0.78%
Average Kauai County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Koloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96741 | 0.13% | 0.23% | 0.46% | 0.52% | 0.57% |
| 96756 | 0.15% | 0.23% | 0.78% | 0.98% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Koloa, Hawaii
In Koloa, 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 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 Koloa, 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 Koloa helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. Notably, the highest median tax bill in Koloa is $5,875 in the 96756 zip code, while the lowest is $1,773 in the 96741 zip code.
Average Koloa Assessed Value
$969,200
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 Koloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96741 | $352,450 | $489,375 | $960,300 | $1,459,125 | $1,674,300 |
| 96756 | $581,400 | $713,600 | $969,200 | $1,549,250 | $2,388,620 |
Source: Ownwell
Property Tax Bills Across Koloa, Hawaii
In Koloa, Kauai County, HI, property tax bills are calculated based on the assessed value of a home, which is determined by the local tax assessor. The assessed value is a percentage of the market value, and this figure is then multiplied by the local property tax rate. The median home price in Koloa is $969,200, and this high market value significantly influences the tax burden on homeowners. Several factors contribute to the final tax bill, including property location, size, and any applicable exemptions or abatements. Homeowners in Koloa can expect a wide range of property tax bills, with the 25th percentile at $2,363 and the 75th percentile reaching $11,817. The 90th percentile tax bill can be as high as $19,904, highlighting the variability based on property specifics. Compared to the national median property tax rate of 0.99%, Koloa's property taxes can be substantial. The highest median tax bill in the area is $5,875 in the 96756 zip code, while the lowest is $1,773 in the 96741 zip code, reflecting the diverse economic landscape within the city.
Average Koloa Tax Bill
$5,875
Average Kauai County Tax Bill
$2,304
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Koloa, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96741 | $1,614 | $1,746 | $1,773 | $4,179 | $6,773 |
| 96756 | $1,167 | $2,383 | $5,875 | $11,827 | $19,904 |
Source: Ownwell