The Inland Revenue confirmed in a knowledge group position That the WOZ value determined by the municipality is leading for inheritance tax purposes.
WOZ value = tax value
From the article which we published yesterday, shows that the WOZ value of a property is the value to be used for tax purposes for inheritance tax purposes. The WOZ value is determined annually by the municipality. It is therefore not illogical for the inspector of inheritance tax to take this value as fixed and not include the property in the assessment of inheritance tax for a lower value.
For inheritance tax purposes, a property must be valued on WOZ value of the year of death. However, the WOZ value of the year after the year of death may also be chosen. This choice must be made in the inheritance tax return, but if the following year's WOZ assessment is not yet known at the time of the imposition of the inheritance tax assessment, the Tax Authorities apply the rule that objections on this point can also be filed after the objection period.
WOZ decision
The municipality determines the WOZ value of each property annually in one of the first months of the year. Anyone who is of the opinion that the assessed (WOZ) value is too high can lodge an objection with the municipality within 6 weeks of the date. After those 6 weeks, the WOZ value for that year is in principle fixed.
The WOZ Act only allows the municipality to reduce a permanently fixed WOZ assessment if the value is found to be at least 20% (and at least €5,000) too high.
Request new decision
However, there is a simple way in the context of a death to still challenge a permanently fixed WOZ value. This is because when a property is inherited, a new interested party (or several) joins the property. These new interested party(ies) can request the municipality to issue them a new WOZ assessment. And this new decision can then be objected to (within 6 weeks). No deadline is set for the request to issue a new WOZ assessment.