Formuesverdi (assessed wealth value)

Formuesverdi is the value your home is given in your tax return, and which forms part of the basis for wealth tax. It is deliberately set lower than the market value.

For a primary home (where you live), the formuesverdi is set at 25 percent of the estimated market value up to 10 million kroner, and 70 percent of any amount above that. So a primary home worth 4 million gets a formuesverdi of 1 million. A secondary home (for example a rental property) is valued at 100 percent of market value, and therefore weighs much more heavily in the wealth calculation.

Formuesverdi is not the same as the assessment basis for eiendomsskatt, even though both start from the home’s value. If you plan to own more than one home, it is worth knowing that the second one counts in full toward your wealth.