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What will it actually do to your property taxes?
The new property valuations have an impact on the taxation of your home, as the property valuation forms the basis for how much you have to pay in property value tax and land tax. If your home is assessed higher than before, the tax on your home can potentially increase, however, there is a so-called "tax cap" that means that you can pay the same tax as this year (2023). Conversely, the new assessment may mean that your property taxes will decrease - this will happen for 4 out of 5 Danes.
However, if you're about to sell your home, a higher valuation and higher taxes can still have a negative impact. This is because if you sell your home after January 1, 2024, the new owner will have to pay the new and potentially higher taxes. So, this can negatively affect the price of your home when it comes time to sell.
The assessment is temporary
The assessment is not final, as the final assessment is not due until 2025. However, the provisional assessment forms the basis for the tax you will have to pay during 2024.
Homeowners must pay tax according to the preliminary assessment in 2024 without the possibility of appealing the preliminary assessment. This will only be possible in 2025, when the Danish Assessment Agency sends you a message in your e-Boks where you can see how they have arrived at your assessment. Then you can appeal and any change will have retroactive effect for 2024 as well.
So don't worry, you'll have the opportunity to influence your rating if it's completely skewed.
It only takes 15 minutes to try TaxHelper and you'll get an average of DKK 2,704 extra back in tax
At the same time, you only pay if you get a tax saving.
How do I check my new property valuation?
You can do this on the Appraisal Portal:
1. Open the Assessment Portal: Go to https://www.vurderingsportalen.dk/ejerbolig/ejendomsvurdering/foreloebige-vurderinger
2. Find the property: Enter your address and search for your property.
3. See the property valuation: Once you've found your property, you'll be able to see the current property valuation (it's split into overall property valuation and land value valuation).
How do I check my new home tax?
You can also do this on the Rating Portal:
1. Open the Assessment Portal: Go to https://www.vurderingsportalen.dk/ejerbolig/nye-boligskatteregler-i-2024/faa-en-ide-om-din-boligskat-i-2024
2. Find the property: Enter your address and search for your property.
3. See your property tax: Once you've found your property, you'll be able to see the potential property value tax and land tax(however, you can pay a maximum of what you're paying today)
Ultimately, new property valuations are an important element of your finances as a homeowner. By understanding how they affect your home's price and regularly checking your assessment, you can ensure you're well equipped to make the right decisions about your property.
But it's also important to emphasize that nothing is permanent yet. The assessments are temporary, so they can still change and you are still guaranteed not to pay more tax than you do today until you sell your home.
In TaxHelper, we help you find the deductions you're entitled to. You answer a few simple questions that take just 15 minutes to complete.
Then we report the deductions, and you get an extra DKK 2,704 back in tax. At the same time, you only pay if you get a tax saving.
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