Waimea, Hawaii Property Taxes
The median property tax rate in Waimea, HI is 0.33%, which is higher than the state median of 0.29% but significantly lower than the national median of 0.99%. With the median home value in Waimea at $597,500, the typical annual property tax bill amounts to $1,184, which is well below the national median of $2,690. Property taxes in Waimea are calculated based on the tax assessed value, often lower than the market value due to exemptions like primary residence and agricultural exemptions. Understanding Waimea'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 Waimea or another part of the city, understanding the local property tax system benefits both homeowners and real estate investors.
Last Updated June 14, 2024
Waimea, Hawaii Property Tax Bill Calculator
$100,000
$1,500,000
$3,000,000
Average Tax Rate
0.33%
Estimate Property Tax Bill
$1,972
$1,830
Ownwell’s Waimea Property Tax Bill Calculator helps any homeowner, real estate investor, or potential owner estimate their annual property taxes in Waimea with just two data points. By entering your property's estimated assessed value, the calculator applies the median tax rate in Waimea 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 Waimea, Hawaii
Property taxes in Waimea, Hawaii, play a crucial role in funding essential local services such as public schools, road maintenance, and emergency services. The median tax rate in Waimea stands at 0.33%, which is significantly lower than both the Hawaii state median and the U.S. national median of 0.99%. Local government entities within Waimea set these rates annually, and they can vary significantly across different neighborhoods. Each year, Waimea 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 Waimea's effective property tax rate to other counties in Hawaii and the national median. Understanding how Waimea compares with other areas 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 Waimea Tax Rate
0.33%
Average Kauai County Tax Rate
0.28%
Average Hawaii Tax Rate
0.29%
Average United States Tax Rate
0.99%
Property Tax Rates Across Waimea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96796 | 0.11% | 0.16% | 0.33% | 0.54% | 0.57% |
Source: Ownwell
Property Tax Assessment Values Across Waimea, Hawaii
In Waimea, 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 Waimea, 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 Waimea helps identify opportunities for protesting assessments or applying for exemptions to effectively manage the tax burden. In Waimea, the zip code with the highest median tax bill is 96796, with a tax bill of $1184. Conversely, the zip code with the lowest median tax bill is also 96796, reflecting the same value. These figures highlight the range of property tax bills in the area, emphasizing the importance of understanding your specific tax situation.
Average Waimea Assessed Value
$597,500
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 Waimea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96796 | $107,700 | $255,700 | $597,500 | $714,800 | $865,440 |
Source: Ownwell
Property Tax Bills Across Waimea, Hawaii
In Waimea, property tax bills are calculated based on the assessed value of a home and the applicable tax rate set by Kauai County. The assessed value is determined by the county assessor, who evaluates the property's market value. Homeowners in Waimea experience property tax bills that are influenced by various factors, including the property's location, size, and condition. The median home price in Waimea is $597,500, which serves as a benchmark for understanding property tax obligations. Property tax bills in the area can vary significantly, with the 25th percentile bill at $756 and the 75th percentile reaching $2,235. For those at the higher end, the 90th percentile tax bill can be as much as $3,776. These tax bills impact homeowners by contributing to their annual housing costs, affecting affordability and budgeting. Compared to the national median property tax rate of 0.99%, homeowners in Waimea may find their tax rates competitive, yet the total tax bill can still represent a substantial financial commitment.
Average Waimea Tax Bill
$1,184
Average Kauai County Tax Bill
$2,304
Average Hawaii Tax Bill
$2,234
Average United States Tax Bill
$2,690
Property Tax Bills Across Waimea, Hawaii
| Zip | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| 96796 | $482 | $756 | $1,184 | $2,235 | $3,776 |
Source: Ownwell