The WOZ value continues to rise; what does this mean for you?
The WOZ decision arrives on the mat in the first eight weeks of the year. It is a recurring topic of conversation. Has your house been assessed at value? Should you object? And what does it mean for the taxes you have to pay this year? These are questions that many people struggle with.
Again this year, the WOZ value of many houses is rising. On average, the value is now two to four percent higher than last year. House prices remain high - despite fluctuations here and there - and the tightness in the labor market appears to be continuing.
How is the WOZ value determined?
The municipality calculates the WOZ value of homes. The Valuation Chamber oversees the process. The WOZ value depends on, for example, the type of home and the status of maintenance. As a result, the WOZ value may vary from one municipality to another and from one home to another.
The WOZ value is calculated based on figures from a year earlier. Now the reference date is January 1, 2023; the period from January 1, 2022 to January 1, 2023 is then considered. Thus, the WOZ value does not quite keep up with developments in the housing market and the market value of homes.
What do we do with the WOZ value?
Based on the WOZ value, municipal taxes are calculated, for example, property tax and water board tax. The WOZ value of your home is also important for income tax purposes.
In general, the rule is: the higher the WOZ value, the more tax you have to pay. This means that a lower WOZ value is more interesting in many cases.
But a lower WOZ value is not always convenient. If you have plans to sell your house, a higher value may actually be interesting. After all, this can factor into determining the price.
New process
"Since 2022, the way municipalities determine the WOZ value has changed. Previously, they always looked at the contents of a house. Now it is about the usable area. In addition, houses in a municipality are compared with each other to determine the WOZ value."
Twan Peeters
Mortgage advisor at Alpina Roerdalen
Objecting
Do you disagree with the calculated WOZ value? Then you can file a free objection with the municipality. Do this within six weeks after you have received the WOZ assessment. Not only homeowners, but also tenants can object. The maximum rent, for example, is determined on the basis of the WOZ value.
Desks
There are many agencies that are willing to help file a deposit on a no cure, no pay basis such as objector.com. If the WOZ value is reduced, the municipality must pay the costs incurred. It was announced on Budget Day that the government wants to limit the use of these agencies. This is because the number of objections, and thus the costs for municipalities, has increased significantly in recent years. If you want to object with an agency, check carefully what the rules and possibilities are.
WOZ value retrieval
Do you not (yet) know the WOZ-value of your house? Then you can ask for this free of charge at the WOZ-Value counter. You can also request a valuation report from the municipality.
