WOZ-waarde

What is WOZ-waarde?

WOZ stands for Valuation of Real Estate (Waardering Onroerende Zaken). The WOZ Act ensures that all governments use the same valuation for a home when levying taxes. The WOZ value is the value of your home as determined in accordance with the WOZ Act. The following authorities use this value of your house to determine the tax:

  • Municipality (property tax). 
  • Tax and Customs Administration (e.g. notional rental value for income tax). 
  • Water board (water system levy).

Value in WOZ decision

Homeowners receive a WOZ decision at the beginning of each year (January or February). This will inform you about the WOZ value. This value is equal to the value your home would have sold if it had been sold on 1 January of the previous year. So in your 2021 WOZ decision, the value is determined on the basis of the sales value of your home on 1 January 2020.

Lower WOZ value

Because various governments base their taxes on the WOZ value, it is important that you check whether this value is correct. A lower value allows you to lower your tax. A higher WOZ value is again interesting if you are going to sell the house. These are arguments for a lower (or higher) WOZ value.

Free WOZ objection

In many cases, a WOZ objection is free. If an objection is approved, the municipality will bear the costs. This is also the reason that there are various agencies that help you with the WOZ objection. For example, WOZ-Consultants indicate that 85% of the objections they make are successful.

WOZ value with a mortgage

The WOZ value of your home is also important when applying for a mortgage. The lender wants to know whether the ratio between the home value and the mortgage fits within the current mortgage standards. With a number of lenders it is possible to take out a mortgage based on the value in the WOZ assessment. You do not need to have the property appraised.

If the WOZ value is used for your mortgage, it is interesting if it is high. You can also submit an objection to the municipality for this.

WOZ value and home value

For homeowners, it is especially important that the WOZ value corresponds to the actual home value. A lower value can now provide a tax advantage, if you are going to refinance or increase the mortgage, this will be disadvantageous.

From 1 October 2016, the WOZ value is public. Via the website wozwaardeloket.nl you can view the WOZ value of your house in your own street.

Mortgage terms
Aankoopkosten (Purchase costs)
There are several additional costs associated with the purchase of a house. These one-time costs are called purchase costs. Afsluitkosten (Closing cost)
"Afsluitkosten" refers to the closing costs associated with taking out a mortgage. These costs include commissions, appraisal fees, notary fees, and fees for applying for a National Mortgage Guarantee (NHG). Bankgarantie (Bank guarantee)
When buying a house you will be asked for a bank guarantee. The bank guarantee is a guarantee that you, as the buyer of a house, must give to the civil-law notary. Belastingaftrek (Tax deductions)
The government has various tax measures that are favorable to homeowners with a mortgage. Betalingstermijn (Term of payment)
The payment term is the periodic term in which you pay the interest, premium and possibly also the repayment. Boeterente (Penalty interest)
Lenders charge a penalty if the mortgage is repaid earlier than agreed in the mortgage deed, for example when refinancing. With the penalty interest, the lender compensates for the lost income from the mortgage. Bouwfinanciering (Construction finance)
Construction financing is the way in which you can finance a new building. Bruto jaarinkomen (Gross annual income)
The gross annual income (or gross annual salary) is the income before deductions. Read what is included in the gross annual salary. We also provide a handy rule of thumb to calculate this. Bruto maandlast hypotheek (Gross monthly mortgage payment)
Gross means 'without deduction'. The gross monthly payment for a mortgage is the amount that is paid monthly without mortgage interest deduction without tax settlement. Eigen geld (Own money)
You can use this capital to finance your house. This capital is called equity. Own money offers on the one hand the possibility to borrow less