How to calculate the taxable value of holiday properties in Norway

In the case of initial valuation, the taxable value of a holiday property must be set to a maximum of 30 percent of the property’s market value, or alternatively to 30 percent of the construction costs, including the plot of land.

In subsequent years, the tax value must be carried forward, but it must include any established upward adjustment. For the 2023 income year, the taxable value is not upwarded. 

If you purchased a holiday property during the year, you can use the taxable value used by the previous owner at the time of the most recent assessment of wealth tax and income tax. 

When there is no taxable value

If you do not have any information about the cost price or previously assessed taxable value, you should enter the estimated market value. By this, we mean what the holiday property would have been sold for today.

If you cannot estimate the market value yourself, you can contact a real estate agent or a valuer. You do not have to send us any documentation, but you must be able to present documentation if we ask for it.

If the taxable value is significantly higher than the valuation level for comparable properties, you can change the taxable value.