Hawaii vs New York
Property‑Tax Comparison: Hawaii vs. New York
Both Hawaii and New York impose property taxes that fund local services such as schools, roads, and public safety. The two states differ markedly in tax rates, home values, and the resulting annual tax bills. The data below come from the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Side‑by‑Side Metrics
| Metric | Hawaii | New York |
|---|---|---|
| Effective property‑tax rate | 0.27 % | 1.60 % |
| Median home value | $808,200 | $403,000 |
| Median annual property tax | $2,183 | $6,450 |
| Tax on a $250,000 home | $675 | $4,001 |
| Tax on a $500,000 home | $1,351 | $8,003 |
| Median household income | $98,317 | $84,578 |
| Reference links | Hawaii property tax | New York property tax |
Which State Has the Lower Tax Burden?
Winner (lower effective tax rate): Hawaii
- Rate difference: 1.33 percentage points (Hawaii 0.27 % vs. New York 1.60 %).
- Relative difference: 83.12 % lower rate in Hawaii.
- Annual tax difference on a $250 k home: $3,326 less in Hawaii.
- Annual tax difference on a $500 k home: $6,652 less in Hawaii.
Why Hawaii wins: The effective property‑tax rate in Hawaii (0.27 %) is substantially below New York’s rate (1.60 %). Even though Hawaii’s median home value is roughly double that of New York, the lower rate results in a median annual property tax that is roughly one‑third of New York’s ($2,183 vs. $6,450).
Who Might Benefit Most from This Comparison?
| Audience | Relevance of Findings |
|---|---|
| Current or prospective homeowners | Understanding the tax component of housing costs can affect affordability calculations, especially when comparing similar‑priced homes in the two states. |
| Retirees considering relocation | Property‑tax burden influences fixed‑income budgeting; lower taxes in Hawaii may offset higher home prices for some retirees. |
| Real‑estate investors | Tax rates affect net operating income and cash‑flow projections; Hawaii’s lower rates could improve after‑tax returns despite higher purchase prices. |
| Policy analysts and local officials | The stark contrast highlights how tax‑rate structures vary across states and can inform discussions on fiscal policy and service funding. |
All statements are based on the most recent ACS estimates and reflect median values; individual tax bills can differ based on local assessment practices, exemptions, and specific property characteristics.
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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.