Expensive homes can get higher taxes – E24

Expensive homes can get higher taxes - E24

New government figures will update how Norway achieves the value of your home. The goal is to get closer to really expensive assets There is Respect.

According to Starstistics Norway, there are expensive detached houses where the deviation is greater with the current model.

Published: Published:

The individual homeowner’s payment of wealth tax and property tax may differ with the new government.

At the Hurdle site, Labor and the Center are in favor of updating the method used by Statistics Norway (SSB) to estimate the value of a home.

The method of valuing valuable assets through the statistical Norwegian template model should be updated to reflect the actual value of the properties.It says on stage.

– If you can be a powerful blow to expensive homes, says you Rolf Lode, president of the Taxpayers Association.

The model used today is based on the question, size, location and age of the property.

Now you need to work on introducing another method. The details are not yet clear.

Rolf Lowe, President of the Taxpayers Association

Lotte says it’s generally good if a model hits well.

At the same time, he did not know how well Starstistics Norway could really meet.

– The apartment on the ground floor is worth 10 million kroner, while the penthouse is worth 20 million. So this is not only creating small geographical areas, Lotte warns.

The biggest contradiction in expensive homes

The wealth tax you have to pay because you own a house is based on the current statistical Norwegian model. It is used by the tax administration to calculate how many homes are worth.

The value of the home’s property, which is actually taxable, is a percentage of this calculated market value. This is 25 percent for the homes you live in, and 90 percent for other homes.

Property tax in many municipalities also depends on the statistical Norwegian model.

Municipalities use these calculations to choose whether they want to come to the property tax site or evaluate themselves.

If a potential new model strikes better, it will mean higher taxes for homes with a much lower calculated value today.

Most homes are very close to the value of today’s model. Statistics Norway’s own calculations Shows that 75% of the estimated value is within the plus / minus 20% of the market price.

But Per Medpi agrees on the Norwegian statistic that this deviation is huge today for expensive detached houses.

Medpi also adds that detailed work needs to be done if major changes are to be made to the model.

– There are better methods

Homeowners are happy to have a new model. Consumer and Communications Manager Carsten Henrik Bihl believes that the current system is too rugged, believing that there are already better methods — and that machine learning models can create a more elegant system.

– Thus, they better take into account local differences. In Oslo, for example, prices may be higher on one side of the street. Statistics cannot catch this by the Norwegian model, but a machine learning model can do it, says Bihal.

Carsten Henrik Bihal, Consumer and Communications Manager at Hussain

Virti is one of the companies that created such a system.

The starting point is advanced machine learning, where a large amount of information about homes is collected. According to General Manager Hewert Hekem, this method can take into account more things than Norwegian figures.

– The more available data, the more accurate you can hit. There may be street noise levels, the distance to the nearest kindergarten, the previous sale of the house in question and so on.

According to Hegem, machine learning is defined as a synonym for various statistical methods that people can find links that are not likely based on a large amount of information.

Although Heardy did not create the taxation system, Heckem believes that the methodology and technology in theory may have been used for that purpose. If so, higher taxes may be levied on more expensive homes.

From a technical point of view I can say on a general basis that the more expensive items are often underestimated than the cheaper homes. Heckham says the more advanced model can often catch this, and then lead to higher taxes for those with more expensive homes.

– The importance of justice

If a new system involves more factors than it does today, a challenge arises that the figures point to both Norway and Virdi. Not all information is available in all homes in Norway.

In a tax model, in our opinion, justice is important. This means that data that is not available to all households should not be used, but should be used to determine the general data base for calculating home value, says Weirdy manager Hekem.

According to Per Medpi at Statistics Norway, the presence of certain variables in the model is a conscious choice.

In its time, it was justified on the basis that it should be a simple and transparent model, where taxpayers can see what affects value.

See also  Taking Advantage of Tech as a Startup Owner
Joshi Akinjide

Joshi Akinjide

"Music geek. Coffee lover. Devoted food scholar. Web buff. Passionate internet guru."

Leave a Reply

Your email address will not be published. Required fields are marked *