The WOZ value is an unfamiliar concept to many people. However, it is an important factor when buying or selling a house, taking out a mortgage and paying municipal taxes. In this article we are going to explain all about the WOZ value, what it is, how it is determined and why it is important to know.
What is the WOZ value?
The WOZ value stands for Wet Waardering Onroerende Zaken. It is the estimated value of an immovable property, such as a house, business premises or land. The value is determined annually by the municipality and serves as the basis for various taxes and levies.
How is the WOZ value determined?
The municipality determines the WOZ value based on several factors, such as the size and location of the property, its state of repair and the market value of comparable properties in the neighborhood. The value is determined on the reference date, which falls on January 1 each year.
Why is the WOZ value important?
The WOZ value is important because it forms the basis for various taxes and levies. For example, the amount of property taxes (OZB) and sewerage charges are determined based on the WOZ value. In addition, it is important for determining the amount of mortgage loans and interest rates because banks include the WOZ value in calculating risk.
How can I retrieve my WOZ value?
You can request the WOZ value of your home from the municipality in which you live. You can do this via the website or by telephone. It is useful to request the WOZ value if you want to know how much your house is worth or if you want to object to the amount of the WOZ value. You can also view it for free at https://www.wozwaardeloket.nl.
How do I object to the WOZ value?
If you disagree with the amount of the WOZ value, you can file an objection with the municipality. This must be done within six weeks after the date of the WOZ-determination. You can object if you think that the municipality has determined an incorrect value or if you think that the comparison with similar properties has not been made correctly.
