Princeville, Hawaii Property Taxes
The median property tax rate in Princeville, HI is 0.81%, which is significantly higher than both the national median of 0.99% and the Hawaii state median of 0.29%. With the median home value in Princeville at $1,210,700, the typical annual property tax bill reaches $7,843, far exceeding the national median of $2,690. Property taxes in Princeville 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 Princeville'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 Princeville 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
Princeville, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.81%
Estimate Property Tax Bill
$9,807
Ownwell’s Princeville Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Princeville with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Princeville 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 Princeville, Hawaii
Property taxes in Princeville, Hawaii, are vital in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Princeville is 0.81%, which is lower than the U.S. national median of 0.99%. Local government entities within Princeville set these rates annually, and they can vary significantly across different neighborhoods. Each year, Princeville 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 Princeville's effective property tax rate to other areas in Kauai County and the national median. For comparison, the zip code 96722 has the highest median property tax rate of 0.81%, while the same zip code also has the lowest median tax rate of 0.81%. Understanding how these areas compare with Princeville 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 Princeville Tax Rate
0.81%
Average Kauai County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Princeville, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96722 | 0.15% | 0.38% | 0.81% | 0.99% | 0.99% |
Source: Ownwell
Property Tax Assessment Values Across Princeville, Hawaii
Understanding the difference between "market value" and "assessed value" is crucial for comprehending property taxes in Princeville, 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 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 Princeville, 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 Princeville helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. The area’s median home price stands at $1,210,700, with tax bills ranging from $3,710 at the 25th percentile to $18,771 at the 90th percentile. Notably, the zip code 96722 has both the highest and lowest median tax bill at $7,843.
Property Tax Assessment Values Across Princeville, Hawaii
Source: Ownwell
$594,500
$11,734,750
$22,875,000
Average Princeville Assessed Value
$1,210,700
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 Princeville, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96722 | $730,000 | $902,250 | $1,210,700 | $1,775,900 | $2,302,020 |
Source: Ownwell
Property Tax Bills Across Princeville, Hawaii
Property tax bills in Princeville, located in Kauai County, HI, are determined based on the assessed value of a property, which is typically a percentage of its market value. Homeowners in Princeville can expect their tax bills to vary significantly, with the 25th percentile at approximately $3,710 and the 75th percentile at around $12,718. The highest median tax bill in the area reaches $7,843, which is notable given the national median property tax rate of 0.99%. Several factors influence the property tax bill, including the property's assessed value, local tax rates, and any applicable exemptions. For instance, a median home price in Princeville stands at $1,210,700, which significantly impacts the overall tax burden. These property tax bills are crucial for homeowners as they directly affect annual financial planning and the affordability of owning a home in the area. Understanding how these taxes are calculated helps homeowners anticipate their financial responsibilities and plan accordingly.
Average Princeville Tax Bill
$7,843
Average Kauai County Tax Bill
$2,304
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Princeville, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96722 | $2,109 | $3,710 | $7,843 | $12,718 | $18,771 |
Source: Ownwell