Property tax

Property Tax‍

As a homeowner, you are required to pay property value tax and possibly land tax.

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Property value tax is a tax on the value of your property, calculated based on the value of houses and apartments. Land tax is levied on the value of the land.

These taxes are collectively referred to as property taxes and will be collected through advance tax payments starting in 2024.

Property taxes are calculated as a percentage of the official property valuation. A 20% deduction is made from the official property valuation before the tax is calculated.

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Provisional Property Tax

‍Many homeowners have paid a provisional property tax because the Valuation Authority has not been able to provide final public valuations. Therefore, there will be an adjustment to the provisional valuation.

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Tax Discount

‍Homeowners who owned their property on January 1, 2024, and experienced a tax increase due to the new property taxes will receive a tax discount equivalent to the increase from 2023 (calculated under the old rules) to 2024 (calculated under the new rules).

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Deferral Loan

‍If you deferred increases in land tax with the municipality for 2023, the deferral will automatically continue for 2024 through the state. If you do not wish to continue the deferral, you can opt out of it on your advance tax statement by December 31, 2024. If you stop the deferral, you will save interest on the loan up until the end of 2024. Interest will be added on January 1, 2025, for the 2024 tax year if you do not opt out of the loan.

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If You Own Property Abroad

‍Owners of foreign properties who are tax residents in Denmark must also pay Danish property tax.

Foreign property valuations cannot be equated with Danish property valuations. However, the Danish Tax Authority has approved the public property valuations for properties in Sweden and the United Kingdom. Other foreign properties are price-adjusted based on the purchase price in the year of purchase to the current year.

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If you have questions about your property tax or need assistance with reporting your foreign property, we are happy to help.

Our competent advisors are ready to assist you in all areas of property taxation.

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Disclaimer

‍The above information is for guidance purposes only, and we accept no responsibility for decisions made based on this information without prior individual advice. We accept no responsibility for errors or omissions.

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