The Real Estate Valuation Act (WOZ) regulates the determination of the value of real estate in the Netherlands. This value is determined every year by the municipality and is used as the basis for many taxes. Click here to read which taxes are influenced by the WOZ value.
But does every house get a new value every year? There are a number of reasons why the WOZ value of a house is determined every year.
Housing market and changes
First, the value of a home can change over time. The housing market is constantly changing and prices can go up or down. In addition, improvements to a home, such as renovations or improvements to the surrounding area, can increase its value. The same applies to quality reduction in a home, such as wear and tear or decreasing environmental quality.
Second, the municipality must keep a home's value up to date to ensure that the taxes associated with it are levied fairly. If a home were not revalued, some homeowners would actually pay more in taxes than their home is worth. By determining the value every year, the municipality can levy fair taxes.
Changing laws and regulations
Third, laws and regulations can change and that can affect the value of a home. This may be a new law or rule in construction, the environment or, for example, changing prices of raw materials.
Problems with annual valuation
The annual valuation of all properties in the Netherlands is a major expense for the municipalities. In order to keep the costs as low as possible, the municipalities often automatically calculate the WOZ values. Due to the often automatic allocation, the differences cannot always be taken into account. This is very difficult because the value of your home depends on many aspects. The value depends on all kinds of aspects such as surface area, whether the house has a garage, but also many other things that the computer cannot see and therefore cannot include in the estimation of the value of your home. Want to read more about how your municipality determines your WOZ value? Click here. If you think that your WOZ value is too high, you would do well to object. Click here to appeal easily and for free. After you have completed the form, our lawyers will get to work to achieve the best possible result. Wondering what you might be able to save? Click here to calculate your possible savings.
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