Tax deduction card and assessed value of homes

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The tax notice which follows your tax deduction card states an assessed value of your home. This is a preliminary calculation in order to get the most accurate tax deduction.

If you believe the estimated assessed value of your home is wrong and that this has significance for your tax deduction, you can change the tax deduction card. Notify us of the assessed value you believe is correct.

The assessed value of primary homes shall not exceed 30 per cent of the home's documented market value. The assessed value of the first acquired secondary home shall not exceed the market value (2017). For the income year 2016 the limit for the secondary home was 96 percent. The assessed value of other secondary homes shall not exceed the documented market value.

The assessment values for residential properties are based on an increase of 10% from 2015 to 2017, to allow for expected price growth in the property market. For secondary homes the assessment values are based on an increase of 41,4 percent from 2015 to 2017.

Assessed value for primary and secondary homes

The assessed value of primary homes (where the home owner is registered as living  at the end of the income year) is 25 per cent of the estimated market value (2016 og 2017).

The assessed value of other secondary homes is 90 per cent (2017)  (80 per cent - 2016) of the estimated marked value.

Assessed value and wealth tax

If the assessed value is too high or low, it will only affect your tax deduction if you pay wealth tax. A single taxpayer will not pay wealth tax until after the assets are reduced by the debt and a deductible of 1,48 million NOK (2017) (For the income year 2016, the deductible was1,4 million NOK). For married couples, the deductible is 2,84 million NOK (2016), (for the income year 2016, the deductible was 2,84 million NOK).

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