WOZ (Waardering Onroerende Zaken) value determines the property’s value and taxes homeowners must pay annually in the Netherlands.
WOZ value determines the following taxes:
- The homeowners’ tax.
- The municipality taxes such as property tax and sewage tax.
How does the municipality calculate the WOZ value? The WOZ value is computed using similar property’s value and characteristics, for example, construction year, location, size, and state of maintenance. You can check your property value by visiting www.wozwaardeloket.nl
WOZ value in 2021
Rising housing prices increased the WOZ value in 2021. On average, the WOZ value increased by 8.9% in 2021, which is the most significant rise compared with previous years. The WOZ values that are published in 2021 are calculated based on data from 2020.
Regions with the highest WOZ in 2020
Cities with the highest WOZ increase in 2020
- Weesp 22%
- Rotterdam 16%
- Amsterdam 11%
- The Hague 12%
- Utrecht 11.2%
WOZ value pros
- The WOZ value can help you to indicate the price if you plan to sell your home. It gives you an estimated value of the market.
- It is possible to use the WOZ value to lower the mortgage interest rate if your property’s value increased during the year.
WOZ value cons
- The rising value of the property increases municipality taxes (property and waste taxes).
- WOZ impacts income tax
- WOZ impacts heritage tax
Housing market 2021
- Low-interest rates push sales in the real estate market.
- Central banks keep interest rates low to support the economies and provide cheaper loans.
- Limited offering in the real estate market increased the prices.
- The gap between asking and transaction prices increased. On average, the selling price is 2% higher than the asking price.
- We currently have a seller’s market.
- Low-interest rates keep housing affordable, causing overbidding and shorter selling times in the Netherlands.