Hawaii vs Indiana
Property Tax Comparison: Hawaii vs. Indiana
Scope: This article compares key property‑tax metrics for Hawaii and Indiana using the most recent data from the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates). The focus is on effective tax rates, median home values, median annual taxes, and related figures that are relevant to homeowners, prospective buyers, and retirees.
Side‑by‑side comparison
| Metric | Hawaii | Indiana |
|---|---|---|
| Effective property tax rate | 0.27 % | 0.74 % |
| Median home value | $808,200 | $201,600 |
| Median annual property tax | $2,183 | $1,496 |
| Property tax on a $250,000 home | $675 | $1,855 |
| Property tax on a $500,000 home | $1,351 | $3,711 |
| Median household income | $98,317 | $70,051 |
| Internal link | Hawaii property tax | Indiana property tax |
All figures are drawn from the U.S. Census Bureau's 2023 ACS (5‑year) estimates.
Who “wins” on property taxes?
- Winner (lower effective tax rate): Hawaii
- Rate difference: 0.47 percentage points, which is a 63.6 % lower effective rate than Indiana’s 0.74 %.
- Annual tax difference on a $250,000 home: $1,180 (Hawaii $675 vs. Indiana $1,855).
- Annual tax difference on a $500,000 home: $2,360 (Hawaii $1,351 vs. Indiana $3,711).
Why Hawaii wins: The effective property‑tax rate in Hawaii (0.27 %) is less than half of Indiana’s rate (0.74 %). Even though Hawaii’s median home value is substantially higher, the lower rate results in a lower tax burden per dollar of assessed value and lower absolute taxes for the $250 k and $500 k price points shown above.
Which audiences benefit most from this comparison?
| Audience | Relevance of the data |
|---|---|
| Current homeowners | Understanding how their annual tax bill compares to that of another state can inform decisions about refinancing, relocation, or budgeting. |
| Prospective homebuyers | The table provides concrete tax estimates for common price points ($250 k and $500 k), helping buyers evaluate total housing costs in each state. |
| Retirees | Property tax rates affect fixed‑income budgets; a lower effective rate (as in Hawaii) may be advantageous, though overall cost of living and housing prices must also be considered. |
| Real‑estate investors | Effective tax rates influence cash‑flow calculations. Investors can use the rate differential (0.47 %) to model potential tax savings or expenses across markets. |
| Policy analysts | The side‑by‑side metrics illustrate how tax policy and assessed values interact, supporting comparative fiscal analysis. |
The comparison is strictly factual; it does not account for other cost‑of‑living factors (e.g., utilities, transportation, insurance) that may affect the overall affordability of each state.
Summary
According to the U.S. Census Bureau’s 2023 American Community Survey (5‑year estimates), Hawaii’s effective property tax rate of 0.27 % is considerably lower than Indiana’s 0.74 %. This rate gap translates into lower annual taxes for typical home values, even though Hawaii’s median home price is roughly four times that of Indiana. Homeowners, prospective buyers, retirees, and investors can use these data points to gauge the relative property‑tax burden in each state when assessing housing decisions.
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Data Source
All figures are drawn from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates). This comprehensive dataset provides reliable, standardized property tax information across all states.