The WOZ value of homes was higher on 1 January 2020 for the fifth consecutive year. On the date mentioned, the average WOZ value stood at 270,000 euros per home, an increase of 8.9 percent compared to a year earlier. The Central Bureau of Statistics (CBS) reports this on Thursday.
The strongest increase in the WOZ value of homes was noted in Weesp, where the average value increased by 22 percent to 351,000 euros. Of the four major cities, the honor went to Rotterdam, where the average WOZ value is now 222,000 euros per home thanks to a plus of 16 percent. After an increase of 11 percent, that amount now stands at 418,000 euros in Amsterdam.
At the provincial level, the largest percentage increases were noted in Groningen and Flevoland, where the average house value increased by 12 and 11 percent respectively.
The average WOZ value in Groningen went to 186,000 euros, which is still the lowest in the Netherlands. In the Groningen municipality of Delfzijl, the average WOZ value is the lowest per municipality at 134,000 euros. The difference with Bloemendaal, the municipality with the highest average WOZ value in our country, is 616,000 euros.
The WOZ value is an estimate of the value of your house that is used to determine the amount of a number of taxes. For example, the property tax that you have to pay is a percentage of the WOZ value of your house. The notional rental value in box 1 of the income tax also arises from the WOZ decision. The higher the WOZ value, the higher those taxes become.
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