Because house prices have risen sharply in the past year, most WOZ values have also gone up again. This is evident from figures from the Valuation Chamber, which supervises the values determined by municipalities.
This value may be set too high by the municipality. If this should happen, then Poundwise can lodge an objection on your behalf free of charge. Read below how it works and what the benefits are for you.
Everyone can check the WOZ value of their home in various ways. We can do that for you too. The check provides an indication of whether objecting to the WOZ value makes sense. If it turns out that the municipality has set the WOZ value too high or too low, we will object for you. However, a high WOZ value can be beneficial if it qualifies you for a lower mortgage interest rate or if you want to sell your house this year. We weigh all factors against each other
The WOZ value is used to calculate the following taxes:
- Property tax (OZB)
- Water board tax
- Capital tax
- Moveable property tax
- Income tax (by notional rental value)
- A WOZ value that is too high can be quite disadvantageous (to the tune of a hundred to a few thousand euros per year). On average, every € 10,000 WOZ reduction yields an annual saving of € 50.
- Expert objection
Expert objection
Poundwise has a team of tax specialists and brokers who can lodge an objection on your behalf. Contesting your WOZ value pays off!
We lodge an expert objection (at no charge to you) to an overly high WOZ value determination. We often see that municipalities don’t take the details and specifics of your home into consideration. So whole blocks may have the same value, whereas comparable homes may simply have a different value. The municipality of Amsterdam calculates the WOZ value of almost 500,000 homes using a model. The municipality therefore does not take into account specific reasons for your home such as overdue maintenance, outdatedness, (noise) nuisance or a lesser location
The value on the valuation report applies to tax year 2022, but the reference date used is from 2021 (the value of trade on 01/01/2021). We may lodge an objection up to 6 weeks from the date of your order. A lower valuation may quickly save you anywhere from a hundred to a few thousand euros per year. That’s a savings – no matter how small – that will also apply in the following years.
Inspection of comparable properties and specific reasons
Reasons why the WOZ value could be too high are:
- Value significantly much higher than the previous year
- No properly comparable homes listed
- Number of m² is wrong (e.g. barn, attic, garage, or addition)
- The home has overdue maintenance (poor paintwork, leaks etc.)
- The home has an outdated bathroom and/or kitchen
- The home is dilapidated or has cracks in the facade
- The home is on a busy road / nuisance from a supermarket / Spoorlaan / catering / school / adjacent to student residence
- Purchase of the home in 2020/2021 for a lower amount
- The home was appraised at a lower value by an appraiser in the past 2 years.
- Comparable home with lower WOZ value
Free of charge expert objections (no-cure-no-pay)
What you have to do?
If you think your WOZ value is too high, then send an e-mail as soon as possible with a complete and legible copy of the decision (in the Annex) to info@poundwise.nl In the subject line please indicate the following:
Your SURNAME + objection WOZ 2022. We will then get started on it for you. You will receive a return copy of the notice of objection of our tax specialists by e-mail. Should any there be any response from the municipality, you will hear from us again. If you yourself get a response from the municipality, please share a copy of it with us. If no decision has been made by the end of the year, we can take further steps in the new year.
If you have any questions about the above, you can always contact us by phone (020-305 7555).
Get acquainted?
Daphne Alon
Tax advisor/financial planner
