The average WOZ value of homes has again risen to a record high, reports the Central Bureau of Statistics (CBS). On January 1, 2022, the value increased by 8.6 percent compared to a year earlier and an average home value of 315,000 euros was reached in the Netherlands.
Every year, municipalities determine the WOZ value (Valuation Immovable Property) of every home in the Netherlands by looking at the house prices from the previous year. As a result, this value will increase with a one-year delay if house prices rise. This indication of the value of houses is important for homeowners, because, for example, the amount of a number of taxes is calculated on this.
In the municipality of Amsterdam, house prices are experiencing the second lowest increase of all municipalities. The WOZ value here rose by only 2.1 percent compared to 2021. In Noardeast-Fryslân, the Frisian municipality that includes the city of Dokkum, house prices rose relatively the most with 19.5 percent. Of the four largest cities, house prices in Rotterdam rose the fastest with 11.4 percent. The average WOZ value is highest in Bloemendaal at 828,000 euros and lowest in Pekela at 167,000 euros.
Homeowners often have to pay more tax if the WOZ value goes up. This is because municipalities base the property tax (ozb) and sometimes also the sewerage levy on this. Some other taxes can also be determined on the basis of the WOZ value, such as gift tax and inheritance tax. On the other hand, the mortgage interest can sometimes go down after an increase in the WOZ value and it also becomes easier to sell a house, the Vereniging Eigen Huis writes on its website.
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