Assessed value of Dutch homes hit record high

The average assessed value of homes in the Netherlands stood at 270 thousand euros on January 1 of this year, a new record and 8.9 percent more than the year before, Statistics Netherlands reported on Thursday. Weesp homes saw the biggest increase in assessed value, and homes in Bloemendaal had the highest value.

The assessed value of a home is the amount on which a house is taxed on. This value, referred to by the acronym WOZ, follows the price development of existing owner-occupied homes, but with a delay of one year. House prices have been increasing in the Netherlands since 2014, and the WOZ value has been increasing along with them from 2015.

Weesp homes saw the biggest increase in their average WOZ value this year, increasing by almost 22 percent to 351 thousand euros. Of the four large cities, Rotterdam saw the biggest increase with almost 16 percent to 222 thousand euros per home on average. Amsterdam's increase was smallest at 11 percent, but WOZ values in Amsterdam is still high at 418 thousand euros per home.

Homes in the municipality of Bloemendaal had the highest WOZ value at 750 euros on average. The WOZ value was lowest in Delfzijl at 134 thousand euros.