Applies to the income year 2019
If you own a home as of 31 December, the capital value must be entered under this item. The capital value must be assessed annually, based on statistics from Statistics Norway (SSB) concerning residential properties that have been sold and information concerning housing type, location, size and year of construction. If the capital value exceeds 30 percent of the property’s market value, you can request that the capital value be reduced if you are able to document the actual market value. This concerns your primary dwelling.
If the property is a secondary dwelling, the capital value must exceed the documented market value before you can request a reduction in the capital value.
Does this item concern me?
This item concerns anyone who
- owns a dwelling and/or housing unit in a housing cooperative as of 31 December,
- purchased or sold a dwelling/housing unit before 31 December for which registration took place after 31 December,
- purchased or sold a dwelling/housing unit before 31 December, without registering the change of owner,
- owns a dwelling/housing unit with a calculated capital value which exceeds 30 percent/100 percent of the property's market value and the market value can be documented through either a valuation or an observable sales value,
- has constructed a dwelling and completed it by 31 December.
How do I enter this in my tax return?
The item will generally be pre-completed in the tax return, but you should check that everything is correct.
In this case, the property will not be pre-completed and you will have to enter the details of the property under item 4.3.2 and provide information about the property and estimated tax value.
In this case, the property will be listed under the seller and you will have to delete the property under item 4.3.2 yourself.
When a change of ownership is not registered, you must submit the sales contract concerning the change of ownership to the tax authorities in order to have the actual owner updated in our registers. Information concerning ownership, etc. registered in our property register is used to complete the pre-completed tax return. See more about this here.
If you build a new dwelling, the property will not normally be pre-completed in the tax return, but may be shown as a plot. In the income year in which the property is completed, you must enter the details of the residential property concerned under item 4.3.2 and delete it if it is shown as a plot under item 4.3.5.
If you own a housing unit in a housing cooperative, item 4.3.2 will normally be pre-completed with the capital value and information from the housing cooperative, so you should check that everything is correct. The amounts you should check against will be shown in the annual statement you will receive from the housing cooperative in January. If the amount shown is wrong, you must change the pre-completed amount in the tax return. You should also contact the housing cooperative to ensure that the annual statement is correct.
If the property is not shown in the tax return, you must enter the necessary information on the property yourself. You must state the primary area/living area, year of construction and address of the dwelling. The information that is required varies according to whether it is a house/apartment, a housing unit in a housing cooperative or a housing unit in a multi-unit residential building. When submitting electronically, the value will be calculated automatically when you enter the relevant information.
If you own housing in a housing association for which a maximum price is stipulated in the association’s articles of association, this price, including the share of joint debt, must be used as a basis for comparison in relation to the threshold for the maximum capital value of 30/100 percent of the market value.
If you believe that the market value of your primary or secondary dwelling exceeds 30 or 100 percent of the market value respectively, you can ask for the capital value to be reduced when you submit your tax return. You must be able to document the property's market value.
If the information given for the property is wrong, you must correct it by selecting "Change" and entering the correct information. You must also state the reason why you are changing the information (change in property data, the property is not a dwelling, error in share of ownership, do not own the property any longer, distribution between spouses/spouse-equivalent partners or have documentation of market value).
If the property is registered as a secondary dwelling, but is actually a primary dwelling, this can be corrected in the tax return.
You don't have to send us documentation of any changes in capital value in the tax return, but you must be able to present it if we ask to see documentation of any change that has been made.
If you alter the capital value because you believe it is too high relative to the market value, you must be able to document the market value via either a valuer/estate agent or a recent observable sales value if we ask for such documentation.