Hawaii property tax is among the lowest in the country. The median property tax in the state of Hawaii is roughly $1,324.00 per year for a property valued at $517,600.00. That is only .26% of total value of the home. That was hard to believe so i jotted those numbers down and did some research of my own.
I contacted the Kauai County tax Assessors office and received some excellent information.
For the Island of Kauai, taxes are determined by the value of the land and building separately.
$4.25 per thousand – tax on building $3.95 per thousand – tax on land
So to put that in prospective. If you had a property worth $500,000 ($200,000 for Building, $300,000 for land)
4.25 x 200=$850 in taxes for the building 3.95 x 300=$1185 in taxes for the land
Total Real Property Tax: $2,035
I moved from Michigan, and property taxes are twice that amount for half the value! In Hawaii, there are many things that you will find more expensive due to shipping costs, but we caught a break here! Taxes aside, owning property can be a great way to save and even make money on the Islands. But remember, do your homework and find a quality agent to represent you. This is not tax advice, contact your tax attorney for details & confirmation!
Cory Beadle – Realtor(s)