Example of Honolulu County Property Tax Calculation
Honolulu County Property Tax calculation starts with the assessed value of a property, which is determined by the Honolulu County Assessor's Office. The assessed value is then multiplied by the property tax rate, also known as the millage rate, to determine the annual property tax owed.
For example, if a property in Honolulu County has an assessed value of $500,000 and the current property tax rate is 0.37%, then the annual property tax owed would be $1,850. This is calculated by multiplying the assessed value ($500,000) by the property tax rate (0.0037).
It's important to note that property tax rates can vary depending on the location and the type of property. Additionally, there may be exemptions or deductions available for certain homeowners, such as senior citizens or those with disabilities.
Overall, understanding how Honolulu County Property Tax is calculated can help homeowners budget and plan for their annual property tax payments.
If you want appeal your property tax assessment - contact your local tax assessor.
Honolulu County Property Tax Rates
The Honolulu County Property Tax rates for 2021 are listed below in a formatted table:
| Tax | Rate per $100 of Assessed Value |
|---|---|
| Residential | $3.50 |
| Commercial/Industrial | $12.40 |
| Agricultural | $5.70 |
| Conservation | $0.27 |
| Hotel/Resort | $12.90 |
| Time Share | $15.41 |
Please note that these rates are subject to change and may vary depending on the specific location and classification of the property. As a tax advisor, it is important to stay updated on any changes to property tax rates in order to provide accurate advice to clients.
Who sets property tax rates in Honolulu County ?
The property tax rates in Honolulu County are set by the Honolulu City Council. This group of elected officials is responsible for determining the property tax rates on an annual basis. The rates are typically set during the budgetary process, which occurs in the spring and early summer months. The council reviews the proposed budget and makes adjustments as needed, including setting the property tax rates. Property owners in Honolulu County should be aware that rates can fluctuate from year to year, so it is important to stay informed and plan accordingly.
Here is a summary in markdown list format:
- Property tax rates in Honolulu County are set by the Honolulu City Council.
- The council is responsible for determining rates on an annual basis.
- Rates are typically set during the budgetary process in the spring and early summer months.
- Property owners should be aware that rates can fluctuate from year to year.
When is Honolulu County Property Tax due ?
Honolulu County Property Tax Due Date and Payment Methods
Honolulu County has a property tax system that requires payment twice a year. The first payment is due on or before August 20th, and the second payment is due on or before February 20th of the following year.
The payment methods available for Honolulu County property taxes are as follows:
| Payment Method | Description |
|---|---|
| Online Payment | Property owners can pay their taxes online via e-check or credit card. A convenience fee is applied to credit card payments. |
| Property owners can mail their payment to the address listed on their tax bill. They are advised to make sure their payment arrives on or before the due date. | |
| In-Person Payment | Property owners can pay their taxes in person at the Honolulu City Hall. Accepted payment methods are cash, check, money order, or credit card. A convenience fee is applied to credit card payments. |
| Drop Box | Property owners can drop their payment in a drop box located outside of City Hall. They are advised to make sure their payment is dropped off on or before the due date. |
It is important to note that failure to pay property taxes on or before the due date may result in penalties and interest. Therefore, it is highly recommended that property owners pay their taxes on time or make arrangements with the Honolulu County Treasurer’s Office for a payment plan.
If you have more questions - contact your local tax collector.
Homestead exemptions in Honolulu County ?
If you're a homeowner in Honolulu County, Hawaii, you may be eligible for certain Homestead exemptions and deductions. To help you understand your options, let's take a closer look at the specific exemptions and deductions available in this area. Here are the details you need to know:
Homestead Exemptions and Deductions in Honolulu County, Hawaii
The following table outlines the various exemptions and deductions available to homeowners in Honolulu County:
| Exemption | Eligibility | Amount | Notes |
|---|---|---|---|
| Basic Home Exemption | All homeowners | $80,000 | Available to all homeowners who occupy their primary residence for at least 270 days per year |
| Enhanced Home Exemption | Homeowners 60+ or disabled | $120,000 | Available to homeowners who are at least 60 years old or totally disabled, and who occupy their primary residence for at least 270 days per year. |
| Circuit Breaker Credit | Homeowners 65+ with low income | Up to $1,400 | Available to homeowners who are at least 65 years old, have a household income of $100,000 or less, and pay property taxes that exceed 3% of their income. |
| Home Exemption for Totally Disabled Veterans | Totally disabled veterans | $80,000 | Available to veterans who are totally disabled as a result of their service, and who occupy their primary residence for at least 270 days per year. |
| Home Exemption for Surviving Spouses of First Responders | Spouses of first responders killed in the line of duty | $80,000 | Available to surviving spouses of first responders who were killed in the line of duty, and who occupy their primary residence for at least 270 days per year. |
It's important to note that these exemptions and deductions may change over time, so it's always a good idea to double-check with the Honolulu County tax assessor's office to make sure you have the most up-to-date information.
Overall, these Homestead exemptions and deductions can help homeowners in Honolulu County save money on their property taxes. By taking advantage of these options, you can keep more money in your pocket while enjoying the many benefits of homeownership.
How is Honolulu County Property Tax penalty calculated ?
Honolulu County Property Tax penalty is calculated as a percentage of the uncollected taxes that are past the due date. The penalty is charged to the property owner and is added to their tax bill. Here is an example:
Let's say that John owns a property in Honolulu County and his annual property tax is $5,000. The due date for his tax payment is February 20th, but he misses the deadline and pays his tax on March 15th. The penalty for late payment is 1% of the unpaid taxes per month, so John's penalty for being 23 days late is:
Unpaid taxes = $5,000 - $5,000 = $0
Days late = 23
Penalty rate = 1% per month
Penalty percentage = 1% * (23/30) = 0.77%
Penalty amount = $0 * 0.77% = $0
In this case, John's penalty is $0 because he paid his taxes within the grace period (30 days from the due date). However, if he had paid his taxes on April 15th, his penalty would have been calculated as follows:
Unpaid taxes = $5,000 - $5,000 = $0
Days late = 55
Penalty rate = 1% per month
Penalty percentage = 1% * (55/30) = 1.83%
Penalty amount = $0 * 1.83% = $91.50
So, if John had paid his taxes 55 days after the due date, he would have been charged a penalty of $91.50, which would have been added to his tax bill.
It is important to note that the penalty for late payment of property taxes in Honolulu County can vary based on the amount of time the payment is overdue and the amount of taxes owed. Property owners should always make their tax payments on time to avoid penalties and interest charges.
We recommend contacting the Honolulu County Tax Office or a local tax professional for the most up-to-date and accurate information.