Hawaii vs Wyoming
Property‑Tax Comparison: Hawaii vs. Wyoming
Both Hawaii and Wyoming levy property taxes on real‑estate owners, but the rates and resulting dollar amounts differ considerably. The following sections present the latest available data, a side‑by‑side metric table, and an analysis of which state imposes the lower tax burden.
Key Metrics (2023 ACS 5‑Year Estimates)
| Metric | Hawaii | Wyoming |
|---|---|---|
| Effective property‑tax rate* | 0.27 % | 0.58 % |
| Median home value | $808,200 | $285,100 |
| Median annual property tax | $2,183 | $1,659 |
| Tax on a $250,000 home | $675 | $1,455 |
| Tax on a $500,000 home | $1,351 | $2,909 |
| Median household income | $98,317 | $74,815 |
*Effective property‑tax rate = median annual property tax ÷ median home value.
Source: According to the U.S. Census Bureau's 2023 American Community Survey (5‑year estimates).
Which State Has the Lower Property‑Tax Burden?
Winner (lower tax rate): Hawaii
- Rate difference: 0.31 percentage points, which is a 53.58 % lower effective rate than Wyoming’s 0.58 %.
- Dollar impact on a $250 k home: Hawaii owners pay $780 less per year than Wyoming owners ($675 vs. $1,455).
- Dollar impact on a $500 k home: Hawaii owners pay $1,558 less per year than Wyoming owners ($1,351 vs. $2,909).
The lower effective tax rate in Hawaii translates into smaller annual property‑tax bills for comparable home values, even though Hawaii’s median home price is substantially higher.
Who Might Find This Comparison Most Relevant?
| Audience | Relevance of Findings |
|---|---|
| Current homeowners | Understanding the ongoing tax cost of owning a home in each state helps with budgeting and long‑term financial planning. |
| Prospective homebuyers | Buyers can compare the tax component of total housing costs when evaluating locations. |
| Retirees and fixed‑income households | Lower property‑tax rates may be attractive for those seeking to minimize recurring expenses. |
| Real‑estate investors | Tax rates affect cash‑flow projections and return‑on‑investment calculations. |
| Policy analysts | The data illustrate how tax policy interacts with median home values and household incomes. |
Summary
Based on the most recent ACS estimates, Hawaii imposes a significantly lower effective property‑tax rate than Wyoming (0.27 % vs. 0.58 %). Consequently, property owners in Hawaii pay less in absolute dollars on homes valued at $250 k or $500 k, despite higher median home values and household incomes in the state.
For individuals or entities that prioritize a lower property‑tax burden—particularly homeowners, retirees, and investors—Hawaii offers a more favorable rate environment according to the current data.
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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.