Everything You Need to Know About Your WOZ Value (aka how much your house is worth!)

As a prospective homeowner, you've probably heard of the term "WOZ value," but what does it actually mean and why is it important?

What is the WOZ value?

The abbreviation "WOZ" stands for "Waardering Onroerende Zaken" (Valuation of Real Estate). The WOZ value is the estimated market value of a property, such as a house, business premises, or plot of land, as of a specific reference date. This value is determined annually by the municipality and influences various taxes and levies.

Municipalities in the Netherlands are typically responsible for governing specific towns, cities, or districts. They handle local services, regulations, and community issues, including determining property values for tax purposes as mentioned with the WOZ value.

Why is the WOZ value important?

The WOZ value plays a crucial role in determining the taxes and levies that you as a homeowner have to pay. It forms the basis for the amount of property tax (OZB) but can also affect other taxes such as income tax, water board tax, and wealth tax.

What is the WOZ value used for?

In addition to determining taxes and levies, the WOZ value is also used for other purposes, such as determining the rent of social housing, determining the amount of certain subsidies, and assessing the value of real estate in the event of purchase or sale.

How is the WOZ value determined?

The municipality annually determines the WOZ value based on an appraisal of your property. This appraisal is carried out by specialized appraisers and is based on various factors, including the location, size, condition of maintenance, and area of the property.

What tools are used to determine the WOZ value?

When determining the WOZ value, the municipality uses various valuation methods, including the comparison method, the rebuilding value method, and the rental value method. For houses, the comparison method is almost always applied, assessing recent sales prices of comparable properties in the area. The rebuilding value method, which is based on the costs of rebuilding the property, is typically applicable to business premises. The rental value method, on the other hand, is mainly used for non-residential properties, focusing on the estimated rental value.

How do I find out what my WOZ value is?

Every year in February or March, you receive a WOZ decision from your municipality, which states the determined WOZ value of your property. This decision is also made available digitally via MijnOverheid.nl. Additionally, you can request the WOZ value of other properties in your neighborhood through the WOZ value portal on the website of the central government.

To find information about the WOZ value for your property in the Netherlands, you can use the WOZ-waardeloket website below. This site allows you to look up the WOZ value of any home in the Netherlands, which is useful for seeing how your property compares to others in your area. You can access this site at WOZ-waardeloket.

Here is an example of an anonymous property below:

Tip: You can object to the WOZ value if it is too high or too low!

Don't like the look of your WOZ?

If you believe the WOZ value assigned to your property is incorrect, you can object to it by submitting a formal objection to your municipality. This must be done within 6 weeks from the date on the WOZ decision you received.

Initially, you might consider an informal objection directly with your municipality. If a resolution isn't reached informally, you can proceed with a formal objection. Should the municipality's decision on your formal objection be unsatisfactory, further appeals can be made to the administrative law sector of the district court, and potentially higher courts if necessary.

For more detailed steps and guidance, you can visit the Dutch government's official page on this process here.

Last updated: 27/05/2024