It is essential that you have your property’s WOZ value checked. This value is, after all, the tax base for property taxes and plays an important role in:
- the depreciation for tax purposes that takes place under the corporate income tax regime (minimum value);
- personal income tax (own home);
- gift and inheritance tax (homes);
- Water Board taxes;
- the landlord charge.
Reviewing the WOZ value
Municipalities send owners and tenants an annual WOZ valuation decision. You have six weeks to file an objection against this decision. When reviewing the value that has been set, it is important to be aware of the fact that the special valuation rules contained in the Valuation of Immovable Property Act means that the value of your property will often be lower than your own idea about its market value. For example, the rented condition of a property is ignored when valuing a property. Comparing this year’s WOZ valuation with last years can also give you the wrong impression. If the value of your property is wrong, you could inadvertently pay too much tax. Our experience is that it is possible to have the WOZ value reduced in many cases, which, in turn, leads to direct savings on your property taxes. These savings are not only realized by reviewing your WOZ valuation or having it reviewed for you, but vacancy and tax exemptions also decrease the tax burden and are often not fully utilized. Even if third parties are engaged to review your WOZ valuation, this does not always result in a thorough review. Meijburg & Co performs both a tax-legal and a technical valuation review.
Meijburg has a team of 10 specialists and has been the leading player in this field for more than 20 years. We now perform WOZ services for a property portfolio worth more than EUR 10 billion.
- Quick Scan
By performing a quick scan on your property portfolio we can calculate the savings you can make. The outcome of the scan will be discussed with you.
- Preliminary consultation / notice of objection
If the quick scan shows that the WOZ value is too high, we will consult with the municipality about the WOZ value in order to realize the savings. This is done through objection proceedings but also via preliminary consultation.
- WOZ management
You can also choose to outsource to us all activities concerning the WOZ and municipal taxes. For example, the registration and payment of assessments and dealing with requests for information. This means that you will not only save an enormous amount of time, but will also not have to worry about payment and objection deadlines.