Hawaii vs New Mexico Property Tax Comparison (2024)
Hawaii has the lower average effective property tax rate at 0.29%, compared with 0.63% in New Mexico. On a $400,000 home, that works out to an estimated $1,360/year difference. The statewide average is useful for a quick screen, but the county lists below show where the real spread appears inside each state.
This page is also useful for the reverse search: New Mexico vs Hawaii property tax comparison, including rates, rankings, annual bills, and county-level highs and lows.
Hawaii Avg Rate
0.29%
rank #50
New Mexico Avg Rate
0.63%
rank #34
Annual Difference
$1,360
on $400,000
Monthly Difference
$113
escrow estimate
Side-by-Side State Comparison
A state-level comparison is best for narrowing your search before reviewing county-level rates and home prices.
| Metric | Hawaii | New Mexico | Lower / Better |
|---|---|---|---|
Average effective rate | 0.29% | 0.63% | Hawaii |
Average annual property tax | $1,836 | $1,107 | New Mexico |
Estimated tax on a $400,000 home | $1,160 | $2,520 | Hawaii |
Average median home value | $798,675 | $192,727 | New Mexico |
National tax burden rank | #50 of 50 | #34 of 50 | Hawaii |
5 Lowest Property Tax Counties in Each State
These are the lowest effective-rate counties in Hawaii and New Mexico.
5 lowest counties in Hawaii
5 Highest Property Tax Counties in Each State
These counties show the upper end of the property tax range in Hawaii and New Mexico.
5 highest counties in Hawaii
Median Home Value Comparison by County
Home value matters because a low tax rate on an expensive home can still mean a high annual bill.
5 lowest median home values in Hawaii
5 highest median home values in Hawaii
Estimated Property Tax by Home Value
The table below applies each state average rate to common home prices. Actual taxes depend on the county, assessment rules, and exemptions.
| Home Value | Hawaii | New Mexico | Annual Gap |
|---|---|---|---|
| $250,000 | $725 | $1,575 | $850 |
| $400,000 | $1,160 | $2,520 | $1,360 |
| $600,000 | $1,740 | $3,780 | $2,040 |
| $800,000 | $2,320 | $5,040 | $2,720 |
| $1,000,000 | $2,900 | $6,300 | $3,400 |
What This Comparison Means for Homebuyers
The average effective property tax rate in Hawaii is 0.29%, while New Mexico averages 0.63%. That makes Hawaii the lower-rate option on a same-priced home, but the better housing market depends on county choice, home price, and local exemptions.
The lowest and highest county tables are important because statewide averages can hide local variation. A buyer comparing two metro areas should look at the exact county pages after using this state comparison as a first pass.
Median home value adds another layer. A state with higher home prices can produce a bigger tax bill even with a moderate effective rate, while a lower-priced county can reduce total ownership cost even if its tax rate is not the lowest.
Hawaii vs New Mexico Property Tax FAQs
Is this also a New Mexico vs Hawaii property tax comparison?v
Yes. This page uses Hawaii vs New Mexico as the canonical title and URL, but the data also answers the reverse search: New Mexico vs Hawaii property tax rates, annual bills, home values, county highs and lows, and tax burden rankings.
Which state has lower property taxes: Hawaii or New Mexico?v
Hawaii has the lower average effective property tax rate at 0.29%, compared with 0.63% in New Mexico. The gap is 0.34 percentage points, which can become meaningful on higher-value homes.
How much would property taxes differ on a $400,000 home?v
Using each state's average effective rate, a $400,000 home would owe about $1,160 per year in Hawaii and $2,520 per year in New Mexico. That is a difference of roughly $1,360 per year, or $113 per month.
Do state averages tell me what I will actually pay?v
No. State averages are a starting point. Property tax bills are local, so county rates, city levies, school districts, exemptions, and assessed value rules can move your actual bill above or below the state average.
Why compare the five lowest and five highest tax counties?v
The five-county lists show how wide the range can be inside each state. A state may look affordable on average but still contain expensive counties, and a higher-tax state can still have pockets with lower effective rates.
Should I compare median home values too?v
Yes. A lower tax rate does not always mean a lower housing cost if home prices are much higher. Looking at both median home value and effective tax rate gives a better picture of ownership cost.
Which is more important: state tax rank or county tax rate?v
For relocation research, use the state rank to narrow your search. Before buying, compare county-level rates because the county and local taxing districts determine the practical tax burden on a specific home.
Can exemptions change the comparison between Hawaii and New Mexico?v
Yes. Homestead, senior, veteran, disability, agricultural, and local relief programs can reduce taxable value. Two states with similar effective rates may feel different for homeowners who qualify for different exemptions.
Data source: Tax Foundation / U.S. Census Bureau American Community Survey 5-Year Estimates (2024). Effective rate = median property tax paid divided by median home value. State and county medians are useful for comparison but may not match a specific property.