HAWAII HOMES - Big Island Property Tax
PROPERTY TAX IS A CONCERN if you expect to be moving to Hawaii. One client asked for information about taxes on the Big Island. Real property is taxed by the county in which
it is located. The Big Island is the County of Hawaii. It has different tax
rates from the County of Oahu or Maui.
REAL ESTATE IN HAWAII is assigned a “Class” and there is a
tax rate for each class of property.
CURRENT PROPERTY TAX RATE: click here
LET’S ESTIMATE YOUR TAX. You plan to buy a home worth $100,000
and use it as your primary residence. You
are under 55 years of age and have no disabilities that qualify for other
exemptions; divide $100,000 by $1000. Next you find the multiplying by $5.55 (Homeowner
class) and get $555. So use $555/$100K of value as a rule of thumb.
YOU MAY BE ENTITLED TO EXEMPTIONS that could lower your tax
rate on your primary residence. On the other hand, if your primary residence is
elsewhere, your tax figured on the same property would be around $910/$100K of
value.
OTHER INFO YOU MIGHT WANT - Just email Joyce@KonaHomeInc.com to request any of the following:
HOMEOWNER EXEMPTION BROCHURE
HOMEOWNER EXEMPTION FORM
DISABILITY EXEMPTION BROCHURE
THERE ARE MORE TAX TIDBITS that may apply. I have some very
informative written explanations so contact me if you want more complete information
and I will be glad to forward that to you.
MY HUSBAND AND I FIND PROPERTY TAX here much
more affordable than in the state where we previously lived. In Florida the tax
assessor sometime assessed your new property for more than you paid for it. Then
we paid about $22/1000 – almost two and a half time as much as for a second
home in Hawaii, and nearly 4 times as much as an owner occupant in Hawaii. We
feel Lucky to Live in Hawaii, but please don’t tell
the tax assessor I said property taxes here are a bargain!
Mahalo,
Joyce Murphy Broker/Owner