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Property Taxes in Denmark

Understand the property tax regulations in Denmark...

When buying property in Denmark, the buyer must pay a registration fee on the title deeds, which is currently set at a fixed fee of DKK 1,400 per document. A further 0.6 percent of the purchase price of the property is also payable.

If a loan is taken out to buy a property a registration fee must be paid when taking out the loan, which is referred to as a mortgage deed stamp. This fee is 1.5 percent of the loan amount, which must be paid in addition to the title deeds registration fee.

Tax relief

Tax relief is available on interest payments on a property loan. This is deducted when calculating income tax.

Property value tax

Property value tax is calculated based on the value of the property and the amount is reassessed every other year. Property value tax, while not part of income tax, is calculated separately but collected with income taxes. Property taxes are progressive. Reductions in property tax are available to those who bought their property before 1 July 1998. Old age pensioners also qualify for reductions in property tax. In 2002 a freeze was put on any increases in property value tax - the limit has been frozen at DKK 3,040,000.

Municipal property tax

Municipal property tax is a land tax, based on the value of the land and is calculated at 0.1 percent of the value of the land. It is the responsibility of municipalities to set land taxes which must be paid by home owners in the municipality. These taxes are set between 1.6 percent and 2.4 percent and may be lower for agricultural and forestry land. The average land tax is 2.4 percent. Services such as refuse collection must be paid on top of these land taxes.

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