Saturday, 04 February 2021 4:36 PM

Making an objection to the WOZ value can pay off

Homeowners will soon be able to expect the annual real estate tax (OZB) assessment on their doorstep. Despite the fact that house prices have fallen last year, unfortunately this does not apply to the property tax decision. A golden tip is to check whether your WOZ value is actually correct. You can save a lot of money with that. Every year, the municipality makes a new estimate of the sale value of your home on January 1, 2020 based on a valuation of a number of comparable homes in your area. This is the valuation date.

If you do not agree with the determined WOZ value of your house, it is worthwhile to submit a written objection to the municipality within six weeks of the date of the assessment. Check, for example, whether your living space corresponds to the size on the disposal, whether your house is on a busy road or overlooks an electricity pole. This can be a reason for a lower value. Keep in mind that you can only object if you own a house with a WOZ value of up to two tons and if you believe that the actual value is at least five percent lower. Good for about ten thousand US dollars.


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