In the first months of the year (no later than at the end of February), you will receive the WOZ-value from the local authorities. The WOZ-value is the value for the purposes of the Valuation of Immovable Property Act (WOZ). Each year, the municipality makes an estimate of the current market value. The purpose of this is that all houses are valued in the same way, thus ensuring that calculations for tax purposes are all aligned. Want to find out more about the WOZ-value? Read on below!
How is the WOZ value calculated?
The local authorities engage a valuer. He visits a house and reviews the data relating to the land and the building. As a comparison, he visits one or more similar houses sold around 1 January of the previous year.
The municipality does not have all properties valued by a valuer. Similar properties are valued using a computer model. This model takes into account the location and the number of square metres of the house, among other things. Want to know if your home has been used to determine the current value? You can request a valuation report from the local authorities. Many local authorities automatically include this report with your WOZ assessment.
Requesting the WOZ value
Since October 2016, local authorities are obliged to publish the WOZ-value for houses. A big improvement, as previously, it had to be requested from the local authorities or the Land Registry Office at a fee. You can now do this online via the WOZ-value desk, free of charge and hassle. This tool allows you to compare your home with other houses. Not only in your neighbourhood, but throughout the Netherlands.
If you have any questions about the WOZ-value of your home, or if you have any other questions, please visit our knowledge base or give us a call. We’re happy to help you with the purchase or sale of your home!