The taxable value of both residential and holiday properties abroad is determined according to the rules that apply to holiday properties in Norway.

For properties that have not previously had a taxable value determined under Norwegian rules, the taxable value is set to a maximum of 30 percent of the market value of the property abroad, or alternatively 30 percent of the construction costs, including the plot of land. Annual percentage adjustments may be made in the case of holiday properties. For the 2023 income year, the taxable value is not upwarded. 

The obligation to pay tax in Norway is limited under some of the tax treaties that Norway has entered into with other countries.