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
Eigenwoningforfait (Notional rental value)
"Eigenwoningforfait" is a tax on the theoretical income that a homeowner could earn by renting out their home, even if they do not actually rent it out. Erfpacht (Ground lease)
Often houses in the Netherlands are not on private land, but on leasehold land. This leasehold land is then rented from the landowner (often the municipality). Hypotheekakte (mortgage deed)
The mortgage deed is the official contract for a mortgage. The mortgage deed contains all agreements with the bank that relate to the mortgage. Hypotheeksom (Mortgage sum)
he mortgage sum is the total amount that is borrowed from a lender. Koopakte (Purchase deed)
The written purchase agreement between the buyer and seller of a house. Other words for koopakte are koopcontract or koopovereenkomst (purchase contract or purchase agreement). Maandlast netto (Monthly charge net)
The net monthly payment is the amount that is paid monthly for the mortgage after tax settlement. Therefore, the tax is taken into account. National Mortgage Guarantee (NHG)
 Notariskosten (Notary fees)
When you buy a house, a visit to the notary is unavoidable. The deeds required for the purchase of a home are drawn up by a notary. Taxatiekosten (Appraisal costs)
The appraisal costs are one of the additional costs when taking out a mortgage. They are the costs for the valuation of a house by an independent appraiser. 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.