The WOZ value of your immovable property is increasingly included in taxes. The influence of the value of your home is therefore increasing. In this article we will explain how the value of your home per tax affects your final tax bill. Want to know what you might be able to save? Calculate it with our savings calculator.

Saving on taxes

A major misconception is that the reduction in the WOZ value only affects the property tax that you have to pay to the municipality every year. However, this is not correct! The WOZ value is important for many more taxes, such as income tax. Time to see exactly what the WOZ value has an influence on besides the property tax.

Income tax (inkomstenbelasting)

The value of your home affects income tax. The tax authorities will tax you more heavily in box 1 (work and living) if you have a higher WOZ value. In general, 0.5% of the WOZ value is added to your normal income as income from housing. This means that, according to the tax authorities, with a WOZ value of € 300,000, you can easily add € 1,500 to your income and have to pay tax on it. This amount is also referred to as the notional rental value. If you want to learn more about that, you can read the article on notional rental value (eigenwoningforfait) ..

Wealth tax (vermogensbelasting)

As an extension of income tax, you pay wealth tax for the immovable property if it is not your first home. This can therefore be your second home or an investment property. If you do not live in the house yourself, the WOZ value will be included as an asset in box 3. In box 3 you then pay tax on the value of the house. This tax is much higher than the notional rental value. The mortgage debts you have when acquiring the second home are also included in box 3 and you can deduct them. As a result, the tax profit may be lower if you have no other assets in box 3.

Corporation tax (vennootschapsbelasting)

A company such as a B.V. or N.V. owns immovable property, the WOZ value will influence depreciation. If the immovable property is used as business premises, a floor value of 100% of the WOZ value applies to all business premises since 2019. A transitional arrangement applies to business premises that were taken into use before 2019. If you want to know more about the transitional arrangement for this tax, you can go to the website of the tax authorities to read more.

Gift tax (schenkbelasting)

If you want to donate a home, for example to your child, the WOZ value is very important. If the house is valued lower, you will pay less gift tax. If you transfer the house in one go, this influence is the greatest. For example, if you gift a house worth €300,000 to your child, you will pay an amount of €13,042 in tax on the first €130,424. Because you are gifting the home, you can use an exemption in 2022. Therefore, you pay another € 12,581 in gift tax on the remaining value of € 62,905. Together that is € 25,623 in gift tax. If, for example, you get a reduction of € 10,000 in the WOZ value by appealing with our lawyers, you already save € 2,000 for that € 10,000! If you do not donate to your partner or children, you pay even more tax, so that the same saving in the WOZ value of € 10,000 can lead to a saving of € 4,000. Again you can find more information about this tax at the website of the tax authorities.

Inheritance tax (erfbelasting)

De erfbelasting werkt bijna hetzelfde als de schenkbelasting. Bij de erfbelasting zijn echter de vrijstellingen anders geregeld. Wanneer u bijvoorbeeld bij de erfbelasting een woning erft van uw partner, dan zal u geen belasting betalen wanneer de WOZ-waarde onder de € 680.645 ligt in 2022. Deze bedragen kunnen veranderen in de loop van de jaren. Als u als kind een woning erft van bijvoorbeeld uw ouders, dan betaalt u al veel sneller een groot bedrag aan belastingen. Kinderen krijgen namelijk een veel kleinere vrijstelling. Meer informatie over de belasting kunt u vinden op de website of the tax authorities. Berekenen wat u mogelijk kunt besparen bij een verlaging? Bereken het via onze savings calculator.

Landlord levy (verhuurdersheffing)

The landlord levy has been reduced in 2022 according to the tax plan. The landlord levy may be completely abolished the following year. However, you will pay a landlord levy in 2022 if you own more than 50 rental properties where the rent does not exceed € 763.47 per month in 2022. Not many people have that many homes, so the landlord levy does not apply to them. Most landlord levy is paid by housing cooperatives.

Other taxes

Taxes such as the sewerage levy (rioolheffing), water system levy (watersysteemheffing) and waste levy (afvalstofheffing) are also influenced by the WOZ value. Often a home has a fixed amount plus a variable amount of tax. The variable amount of tax depends on the WOZ value. The savings in the field of these taxes are often relatively small compared to other taxes.

Municipality

Municipalities often say that the tax savings are so low that it often has little influence on your taxes. However, the municipalities only look at the property tax. As you just read, a reduction in the WOZ value saves on many more taxes. A reduction in the WOZ value on average results in a saving for the taxpayer of € 250 per year. You determine the WOZ value of the house at a certain point, as a result of which the property will be worth less next year than if you had not objected. The savings for next year are therefore also present, but less high. For example, if you have to deal with gift and inheritance taxes, the savings can amount to thousands of euros.

Appeal

If you want to make sure you don't pay too much tax, you can start appealing your WOZ value for free to potentially save on taxes. Want to know more first or any questions? contact us. We are happy to help.

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