Vastgoedbelasting rate

The vastgoedbelasting rate is currently 17.5% on the proceeds from the immovable property. This rate is calculated based on the fictitious income of 4% of the value of the immovable property. The effective rate is 17.5% x 4% = 0.7%.

A practical example

You own an immovable property with a value of USD 200,000, which is your second home, on 1 January 2016. An exemption on the first USD 70,000 applies to a second home (as of 2014). The taxes are calculated based on an amount of USD 130,000. You pay 0.7% in vastgoedbelasting on this amount = USD 910.

Imagine that a company owns an immovable property with a value of USD 500,000 as of 2014. This is a home. As of 2014, an exemption of USD 70,000 applies to homes that are not the main residence of the owner (second homes). This exemption also applies to entities as of 2014. The taxes are calculated based on an amount of USD 430,000. In 2016, the entity pays 0.7% in vastgoedbelasting on this amount = USD 3010.

Imagine that a company owns a hotel with a value of USD 300,000 as of 2016. No exemption applies. The tax rate for hotels not owned by a natural person is 10%. An effective tax rate of 0.4% is levied (= USD 1200).

Island surcharges on the property tax

Each island territory can levy surcharges on immovable properties for which vastgoedbelasting are levied. The island territory of Bonaire has adopted a surcharge of 15% on the property tax levied as of 2011. On the islands of Saba and Saint Eustatius, no surcharges are charged on the vastgoedbelasting.

The surcharges on vastgoedbelasting have been increased as of 1 January 2020. This is an increase from 15% to 30% on the national vastgoedbelasting of 0.7%. This means that the vastgoedbelasting of 0,805% will be 0.91% as of 2020.