In an update on property tax in Norway, it has been reported that the number of municipalities implementing property tax remains unchanged in 2023 compared to the previous year. A total of 322 municipalities in Norway continue to levy property tax, indicating stability in the tax landscape.
Among these municipalities, 47 of them impose property tax specifically on mills and factories. This represents a slight decrease from the previous year, with a decline of 2.1%. However, it is worth noting that 48 municipalities still maintain property tax on mills and factories.
The report also highlights that there are no municipalities in Norway that currently implement property tax on both mills and factories and areas built in. This particular category saw a decrease of 100%, indicating a complete absence of such taxation.
In terms of the overall property tax scenario in municipalities, the report reveals that 229 municipalities have property tax in place. This figure reflects a slight decline of 2.6% compared to the previous year, indicating a modest reduction in the number of municipalities implementing property tax.
Regarding the financial impact, the total property tax revenue in 2022 amounted to NOK 16,093,963. The data for 2023 is yet to be finalized. The report also highlights that property tax revenue from commercial properties reached NOK 8,008,831, while revenue from residential homes and holiday properties amounted to NOK 8,085,132. Both sectors experienced a moderate increase in tax revenue, with residential properties witnessing a growth of 5.8% and commercial properties showing a growth of 1.0%.
In terms of property tax as a percentage of gross operating income, the rate stands at 2.9%. The report indicates no significant change in this aspect, suggesting a relatively stable taxation ratio.
Overall, the data indicates that property tax in Norwegian municipalities has remained steady in 2023, with minor changes observed in specific categories. The figures reflect the ongoing approach of municipalities to utilize property tax as a source of revenue while maintaining stability in the tax environment.