WOZ property valuation

The key points at a glance

WOZ stands for Waardering Onroerende Zaken (property valuation) and indicates the value of your home. The WOZ value of your property is assessed by your local municipality, and this happens every year.

1. What is the WOZ value?

The WOZ value of your home is determined by your local municipality every year. You can object to the assessment if you disagree with it. The WOZ value is used as the basis for a number of different taxes. It's determined based on the location of the property, its volume, and its floor area. The municipality determines the WOZ value for all properties within its boundaries. The WOZ value is also important for calculating the eigenwoningforfait (imputed rental value for tax purposes) and inheritance and gift tax.

2. Determining the WOZ value and filing an objection

1 January is the reference date on which your property's value is assessed. This value then applies for the entire year that follows. You can file an objection if you disagree with the WOZ value set by the municipality, but you must do so within 6 weeks of receiving the WOZ assessment notice. You'll also need to state what you believe the property is worth.

If you want to check your own WOZ value, there are several ways to do this. You can look at a valuation report, use the government's WOZ-waardeloket (WOZ value portal), or look up sale prices of comparable properties. It's worth bearing in mind that a low WOZ value is beneficial for tax purposes, but when selling your home you want the WOZ value to be as high as possible.

3. Calculating your mortgage based on the WOZ value

You can also use the WOZ value of a property to get an idea of how much mortgage you'd need to buy it, even if you don't yet know the asking price.

Want to calculate your WOZ mortgage? The WOZ value gives an indication of a property's worth, which you can use to calculate the mortgage you need. You can also use the WOZ value to apply for a WOZ credit (WOZ-krediet). This is particularly interesting when there's a lot of equity in your home and you want to use some of it for everyday expenses. Calculate your equity to see how much room you have.

4. Loan-to-value

When calculating your mortgage and the rate you'll pay, banks don't use the WOZ value. Instead, they use the loan-to-value ratio (LTV). The bank looks at the value of the property and compares it to the mortgage you want to take out. The lower this ratio, the less risk the bank carries.

When calculating a mortgage, you'll notice that a lower loan against a higher property value leads to lower monthly costs (interest plus repayment). Today, some banks offer a lower interest rate depending on how much you borrow relative to the property value. So if your mortgage is only 60% of the property value, you'll pay less interest than if you borrow 80%.

Frequently asked questions

What is the WOZ value?

WOZ value stands for Waardering Onroerende Zaken (property valuation) and represents the value of your home. A number of taxes are based on the WOZ value.

Who determines the WOZ value of my property?

The municipality sets the WOZ value of your property every year on 1 January.

How is the WOZ value of my property determined?

The value is determined based on the location of the property and data on its volume and floor area.

Can I object to the WOZ assessment?

You can file an objection to the WOZ assessment within 6 weeks. You'll need to state what you believe the WOZ value of your property should be.

Can I calculate my mortgage using the WOZ value?

Yes, it's possible to calculate your mortgage based on the WOZ value of your home. You can also apply for WOZ credit, for example if your home has built up a lot of equity.

Is my mortgage based on the WOZ value?

No, most banks use the loan-to-value ratio instead. This is the property value relative to the loan you want to take out.