Item 4.3.3

4.3.3 Holiday homes

Applies to the income year 2017

If you own a holiday home as of 31 December 2017, the tax value of the property must be entered under this item. The tax value is determined on the basis of a previous tax value for the property, the cost price of a new building or the sales value/purchase sum.

In the tax return for the 2017 income year, the tax value of the holiday home must not be adjusted upwards. The tax value must not exceed 30 percent of the property's market value.

Does this item concern me?

This item concerns everyone who

  • owns a holiday home or a share in a holiday home cooperative as of 31 December,
  • has sold or purchased a holiday home before 31 December, but not had the sale or purchase registered by 31 December, or
  • owns a holiday home or a share in a holiday home when the calculated capital value exceeds 30 percent of the property's market value.

A holiday home is not the same as a secondary residence. The tax value must be entered under item 4.3.2. Whether the property is considered a holiday home or a secondary residence is determined by the information that is stated in the land register and not by the use of the property. For more information on the difference between a holiday home and a secondary residence, see here.

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.

If you own a share in a holiday home cooperative, the item will normally be pre-completed with the value and information provided by the housing cooperative, so you should check that everything is correct.

You should check your amounts against 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 holiday home cooperative to ensure that the annual statement is correct.

If the property is missing from the tax return, you must enter the necessary information on the property yourself. Among other things, you must state the holding number, subholding number, lease number, section no., municipality, share of ownership in percent and tax value. If you own a share in a holiday home cooperative, you must state the municipality, the housing cooperative's name and organisation number, etc.

The tax value must correspond to either

  • previously assessed tax value, adjusted for the percentage increase/reduction during the year. For holiday properties, no general upward adjustment of the tax value must be performed for the 2017 income year. The tax value that follows from the 2016 tax assessment can therefore also remain unadjusted for the 2017 income year, or
  • in the case of new-build, substantial improvements, etc., the tax value must be assessed in accordance with the level that otherwise applies to comparable properties in the municipality. The tax value of newly built holiday homes must not be set higher than 30 percent of the value of the land plus construction costs, or
  • a maximum of 30 percent of the documented sales value.

 

If you sold the property during the 2017 income year, but it is still included in the tax return, you should delete the property under the item and provide information on the new owner.

If you believe that the tax value exceeds 30 percent of the market value, you should alter the tax value under the item.

If the information given for the holiday home is wrong, you must correct it by selecting "Change" and entering the correct information. You must also state the reason for the change (transferred to spouse cohabitant, new holiday home or other reasons).

If the property is still being built, the tax value must be set to 80 percent of the plot's market value. Once the holiday home is completed, the tax value must be set to either 30 percent of the property’s cost price including land or 30 percent of the property’s market value.

Improvements

If the improvements you have had carried out on the holiday home were more substantial, i.e. you have improved or altered the standard of your holiday home, you must provide information on this.

Documentation requirements

You don't have to send us documentation of any assessments/changes in tax value in the tax return, but you must be able to present it if we ask to see it.

If you alter the tax 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.

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