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Written by:
Bas Hollenberg


Timely objection to “WOZ” assessment

The municipal “WOZ” assessments (property assessments under the Valuation of Immove­able Property Act of the Netherlands) are scheduled for distribution in late February 2014.

They are based on the appraised values of the relevant properties as at 1 January 2013 (this being the current year’s reference date). In addition to the appraised values being used by the municipali­ties as a basis for levying property taxes, they also serve a variety of other tax purposes such as that of calculating imputed income from home ownership under box 1, dis­trict water board charges or the landlord’s tax charge, and are used in the context of immove­able proper­ties being inherited or gifted. The appraised value also has relevance where it con­cerns immoveable properties that are used in a business context, as it imposes restric­tions on the maximum depreciation of the relevant properties.

The taxes levied on let dwellings being accounted for under box 3 are likewise based on the “WOZ” assessments for the relevant properties. The growing importance of the “WOZ” assess­ment makes it a worthwhile exercise to look into the accuracy of the appraised value and consider whether or not an objection might be in order.

Many municipalities offer a straightforward on-line option of lodging a “WOZ” assessment objection, or you may engage a specialist agency if you prefer (many of these operate on a no cure, no pay basis). Either way lodging objection need not be an expensive or time consum­ing affair!

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