The taxable value of your residential property in your tax deduction card

The taxable value shown for your residential property in your tax deduction card is a preliminary calculation to make sure that the tax you pay is as accurate as possible.

Here’s how we calculate the taxable value of your property:

How we do it

We start with information about your property from your 2024 tax assessment. For the 2026 income year, we’ll use an updated model to calculate the taxable value of residential property. This updated model uses information about sold properties from smaller geographic areas instead of entire municipalities. The taxable value your property would have had under the updated model for 2024 is the basis for your 2026 tax deduction card.

We also take expected price growth into account. We estimate that property prices will increase by an average of 9.8 percent from the end of 2024 to the end of 2026.

If you’ve previously changed and proven a new market value in your tax return, we’ve included that too.

Important information

Taxable value of primary dwellings

The taxable value is set to 25 percent of the calculated or proven market value up to NOK 10 million, and then to 70 percent of any amount exceeding NOK 10 million.  

Taxable value of secondary dwellings

The taxable value is 100 percent of the calculated or proven market value.

You can read more about taxable value of residential property.

It’s important that you check the numbers in your tax deduction card

If you believe the calculated market value is incorrect, you can change your tax deduction card. In the tax deduction card, you must enter the market value you believe is correct as of the end of 2026. You do not need to include any supporting documents. The taxable value is calculated automatically. A change in value may affect how much tax you pay.

However, when you submit your tax return next year, you must be able to provide documents proving the updated market value.

Changes you make in your tax deduction card only apply to the tax deduction card and will not be pre-filled in your tax return.

The 2026 tax return

The tax return for 2026 will be available in March 2027. If the calculated market value in the 2026 tax return is too high, you can request that your home be valued based on the proven market value. You must enter the proven market value yourself and update it in the tax return. You can read more about when the market value and taxable value are too high, and how you can change the calculated market value in the tax return.

Taxable value and net wealth tax

If the taxable value of property, bank deposits, and other assets together is higher than your debt, you have taxable wealth.

You do not pay net wealth tax if your wealth is below NOK 1,900,000 (2026).

If you’re married, a registered partner or spouse-equivalent cohabitant, and you’re taxed together, you do not pay net wealth tax if your combined wealth is below NOK 3,800,000 (2026). See the rates for net wealth tax.