The case law surrounding WOZ valuation in healthcare real estate continues to evolve, making it wise for a healthcare organization to actively check the WOZ values. By engaging Previcus Vastgoed, healthcare organizations can be sure that they do not pay too much tax and a lot of work is taken off their hands. But what exactly are the savings points that allow healthcare organizations to record a correct WOZ value in the books, save a lot of money in taxes and therefore have money left over for actual care? Previcus is happy to share its expertise.
What many people do not know is that owners and tenants of healthcare real estate receive a WOZ decision and both have the right to object to WOZ.
Residual value and lifespan
Healthcare real estate is obsolete real estate that is valued on the basis of the new construction value minus the technical and functional depreciation of the real estate. The municipal appraiser must assess the technical and functional condition of the property with his own eyes. Or at least request information about the state of maintenance from the relevant healthcare organization. This usually happens from behind the desk and a physical visit is omitted.
The appraisers at Previcus Vastgoed often see that too high a residual value and too long a lifespan are used for real estate that has already been economically or technically depreciated. To determine whether the WOZ value of the healthcare real estate has been determined correctly, it is important to know when a municipal appraiser last visited your healthcare location.
Low rate residential share exemption
It may happen that the WOZ value is correct, but you still pay too much tax. For example, the home sharing exemption may not have been properly applied. A residential complex must be completely or partially exempt from tax for its use. In addition, the low ‘residential’ rate should be applied instead of the high ‘non-residential’ rate. In practice, Previcus Vastgoed sees that municipalities still do not always correctly apply the case law surrounding the residential share exemption.
Object demarcation and energy tax
In recent years, the separation of living and care has played an increasingly important role. Is a care complex seen as one whole or as separate apartments? From a WOZ technical point of view, there is a big difference between these two methods of valuation. A change in the WOZ object demarcation also has financial consequences for the energy tax refund. Healthcare organizations can save a lot on this. It is therefore important to view the WOZ value at the same time as the energy tax refund.
In short: objecting to the WOZ value means that your healthcare organizations will have more money left over for real care.
Correct real estate data in the books
An additional advantage of critically examining how the WOZ value of healthcare real estate is determined is that this allows you to optimize the real estate data of your healthcare organization. By checking the WOZ value you always have a correct WOZ value in the books. This allows your financial department to work much more accurately and provide better reporting.
Preliminary consultation with the municipality
Would you like to know whether the WOZ value of your healthcare organization is realistic and whether you are not paying too much tax? Or that all exemptions have been applied correctly? Previcus Vastgoed can prevent you from ending up in a long objection procedure by conducting preliminary consultations with the municipality. Both in an objection procedure and in a preliminary consultation, we try to resolve as many differences as possible without the intervention of a judge.
Previcus Vastgoed currently advises approximately 80 healthcare organizations throughout the Netherlands on WOZ issues. Investors in the field of healthcare real estate are also part of Previcus’ customer portfolio. Previcus Vastgoed even has a special rate for members of the Lucrum Foundation. Would you like to know more about the possibilities of a WOZ objection for your healthcare organization? Please contact the care department of Previcus Vastgoed via our website.