The WOZ value will rise by an average of 2 to 4% on an annual basis in 2024 (source: the Valuation Chamber). This varies from region to region and even from house to house. The value may have been set too high by the municipality. Should that be the case, Poundwise can lodge an objection on your behalf. You can read below how it works and what the benefits are for you.
Anyone can check the WOZ value of their property themselves in various ways. We can also do that for you. The check gives an indication of whether there is any point in objecting to the WOZ value. If it appears that the municipality has set the WOZ value too high or too low, we will lodge an objection for you.
However, a high WOZ value can be favourable if it qualifies you for a higher point value, lower mortgage interest 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, among others:
- State taxes:
- income tax
- corporation tax
- the gift and inheritance tax
- Municipal taxes:
- the property tax owners (OZBE, only for owners)
- property tax users (only for users of business premises)
- water board tax
An excessively high WOZ value can be quite detrimental (from just under a hundred to a few thousand euros per year).
View comparable properties and specific reasons
If you think the value has been set too high or if you bought the property at or around the reference date for a lower price, chances are that the WOZ value is incorrect. We are experts in determining the value of your property and expertly substantiating the objection. We take into account similar sold properties in your neighbourhood and various features of your property that justify a different value. Favourable court rulings offer good opportunities for a successful objection.
Reasons why the WOZ value could be too high/low:
- Value significantly higher than the previous year
- No correct comparable properties mentioned
- Number of m² is not correct (e.g. barn, attic, garage, extension)
- The property has overdue maintenance (poor paintwork, leakage etc.)
- The house has an outdated bathroom and/or kitchen
- The house is subsiding or has cracks in the facade
- The property is located on a busy road/ nuisance from supermarket/ railway avenue/ catering establishment/ school/ adjacent student accommodation
- The house was bought recently at a lower price
- The property was recently valued at a lower value by an appraiser
- Comparable property with a lower WOZ value
Expert objection
Poundwise has a team of tax lawyers and estate agents who can make objections on your behalf. This can pay off. We make expert objections against an over-estimated WOZ value. We often see that the municipality does not take into account the details and specific features of the property (such as e.g. overdue maintenance, datedness, (noise) nuisance or an inferior location). Entire blocks have the same value or, on the contrary, similar properties have a different value. The Amsterdam municipality calculates the WOZ value on a model basis (sales figures are analysed per neighbourhood and per type of property).
The value on the assessment report applies for tax year 2024, but has a reference date of 2023 (the market value on 1-1-2023). We can object up to 6 weeks after the date of the decision. A lower valuation sometimes saves from just under a hundred to a few thousand euros per year.
Because of our expertise, the process is fast and lengthy legal processes are avoided (note that the municipality has 1 year to rule on objections). The cost of this service is based on an hourly rate.
We assess the chances of success in advance (our success rate has therefore been exceptionally high in the past).
Objection by heir
As an heir, you cannot object to the original WOZ assessment. You can ask the tax department for a new WOZ assessment. Support your request with a certificate of inheritance. After receiving the decision, you can object up to 6 weeks after the date.
What should you do?
If you think that the WOZ value is too high (or too low), send an e-mail with a complete and legible copy of the decision + an authorization (see bottom of this newsletter) as soon as possible to info@poundwise.nl.
In the subject please mention the following: YOUR BACK NAME + objection WOZ 2024. We would also like to hear the reasons why the value might not be correct. We will then start working for you.
You will receive communication about the progress from our tax specialists. Should the municipality respond, you will hear from us again. If you receive a response from the municipality, please share a copy with us. If no decision has been made by the end of the year, we can take follow-up steps in the new year.
If you have any questions about the above, you can always contact us by telephone (020-305 7555).
Get acquainted?
Daphne Alon
Tax advisor/financial planner
