The housing tax system changes this year, and it will give taxpayers to many.
Do not give away these thousand flaps
You can have so much tax-free housing
Check the equation value of your home
Frp introduces property tax
Just after the summer vacation you will get a form from the authorities. There you will tell what kind of accommodation you live in and how big it is.
The information will be used to determine the new equation value on your home.
For those living in densely populated areas and cities, and especially in older homes, this could mean a significant increase in the equation value.
– Many will find that the value of the value increases significantly, says the head of the Taxpayer’s Association, Gry Nilsen.
– This is a city tax
The goal is to get a better correlation between equation value and market value.
At Huseiernes Landsforening they experience the new system as an extra tax for those living in urban areas.
– I said the last time the system was up for review in the 1990s, and I say again, this is a city tax, says the association’s CEO Peter Batta.
He justifies this because the new system, introduced for fiscal year 2010, will be particularly unfortunate for those living in urban areas because the market value is high above the equation value.
Primary and secondary residence
The new system will distinguish between primary and secondary homes. The primary home is the place where you are registered in the country, while housing you do not live in is to be considered as secondary residence.
Cabins are exempt from the change, with the exception of previous full-year homes used as holiday homes. These are considered secondary homes.
For primary homes, the equation value shall be set at 25 per cent of the market value, while for secondary housing it is set at 40 per cent.
Rental apartments are hit
A secondary residence will be all year-round homes where the owner is not registered with a residence address in the Folkeregisteret.
This will have consequences for those who own rental apartments. For these, the equation value will be set at 40 per cent of the market value.
At the same time as the valuation of housing changes, the tax deduction is increased in the wealth tax.
For tax year 2009, the deduction was 470. 000. Spouses each have their own deduction, bringing together 940. 000. From 2010, the deduction is increased to 700. 000 and 1 respectively. 400. 000.
This means that if you are single, the equation value can increase by 230. 000 before it gets any negative impact on your wealth tax.
For spouses, the tax limit will increase by 460. 000.
According to the Ministry of Finance , approximately 600,000 people will experience tax cuts with the new system, while around 150. 000 will get a sharpening.
Statistics Norway decides
What will be the new equation value on the home?
Statistics Norway (Statistics Norway) calculates the square meter price for each and every house in Norway based on resale homes.
What to do is tell the government how big the home is, what kind of it is and when it’s built.
If you can not wait until you get the verdict at the beginning of 2011, you can use the Ministry of Finance’s calculator (please note that it only gives a hint).
Market value controls
With the new system, the annual change of 10 percent in the equation will decrease.
From this year it will be the market value that fully determines the value of the value and new value is determined each year by Statistics Norway.
They will base themselves on the square meter price in the third quarter. They mean that for the 2010 equation it will be based on market value in the third quarter of this year.
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