The WOZ value of homes has risen sharply. On average, the house value that municipalities keep for taxes has increased by 17% on an annual basis (source: the Valuation Chamber). The value may have been set too high by the municipality. Should that be the case, Poundwise can file an objection on your behalf. You can read below how it works and what the advantages are for you.
Anyone can check the WOZ-value of his house himself in several 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 file an objection for you.
However, a high WOZ value can be favorable 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 that the WOZ value is too high or if you have purchased the property at or around the reference date for a lower price, there is a good chance that the WOZ value is incorrect. We are experts in determining the value of your home and expertly substantiating the objection. We take into account comparable sold homes in your neighborhood and various features of your home that warrant a different value. Favorable 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 listed
- Number of m² is not correct (e.g. barn, attic, garage, extension)
- Property has overdue maintenance (mediocre paintwork, leaks, etc.)
- The house has an outdated bathroom and/or kitchen
- The house is sagging or has cracks in the facade
- The house is located on a busy road / nuisance from supermarket / railroad avenue / catering / school / adjacent student housing
- Purchase the house in 2021/2022 for a lower amount
- Property has been appraised at a lower value by an appraiser in the last 2 years
- Comparable property with a lower WOZ value
Poundwise has a team of tax lawyers and brokers who can file objections on your behalf. This can pay off. We expertly object to an overestimated WOZ value. We often see that the municipality does not take into account the details and specific characteristics of the property (such as overdue maintenance, datedness, (noise) nuisance or an inferior location). Entire blocks have the same value or, on the contrary, comparable properties have a different value. The municipality of Amsterdam calculates the WOZ value on a model basis (sales figures are analyzed per neighborhood and per type of home).
The value on the assessment report is valid for tax year 2023, but has a reference date of 2022 (the market value on 1-1-2022). 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 there is a quick settlement and lengthy legal processes are avoided (note that the municipality has 1 year to rule on objections). The costs of this service are based on an hourly rate and the legal (process) cost reimbursement from the municipality is paid to us.
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 email@example.com.
In the subject please include the following: YOUR BACK NAME + objection WOZ 2023. We would also like to hear the reasons why the value might not be correct. We will then go to work for you.
You will receive communication about the progress from our fiscal specialists. Should there be a response from the municipality, you will hear back from us. 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 phone (020-305 7555).
Tax advisor/financial planner