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Home and tax: What you need to know as a homeowner

Aske Buemann

CEO & Co-founder

Housing and taxes: What do you need to know?

There are many things to consider when buying a home, but what should we really be aware of when it comes to taxes?

1. property value tax:

Property value tax is a tax that is calculated based on the publicly assessed value of your property. The tax is paid annually and is usually a percentage of the value of the property. Rates can vary from municipality to municipality.

2. Land tax:

Land tax is a municipal tax that is calculated based on the land value of the property. It is also an annual tax and the rate is set by each municipality. The land tax is used to finance municipal expenses.

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↪C_200D↩3. pension deduction :

As ahomeowner, you can deduct interest expenses on your mortgage from your taxable income. This is called interest deduction.

4. Property valuation:

Your property is publicly assessed by SKAT at regular intervals. This assessment is used as a basis for calculating property value tax and land tax. Please note that the property assessment may change over time.

5. Service deduction:

If you carry out energy improvements or maintenance work on your home, you may be eligible for a service deduction. This allows you to deduct a percentage of the cost of labor wages, including VAT.

It's important to note that tax rules change over time. Therefore, you should always stay up to date or consult an accountant to get the latest information and advice based on your specific situation.

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