Which residential properties must be valued according to the rules concerning the value of housing?

When determining the capital value of a residential property, the Norwegian Tax Administration will attempt to establish an estimated market value (property value) for the property. The Norwegian Tax Administration uses price statistics from Statistics Norway for properties that are sold and establishes a price per square metre depending on the property's geographic location, age, size and type (detached house, small house or apartment). This calculation method is called the property value rules.

The rules apply to all residential properties with the exception of farmhouses, holiday homes and residential properties abroad and on Svalbard. The capital value will only have consequences for your wealth tax, not your income tax. (Municipal authorities which have introduced a property tax may decide to use property values from the Norwegian Tax Administration as a basis for calculating property tax. More about this here.).