Content
About the statistics
Definitions
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Name and topic
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Name: Ratio between assessed tax value and sales price on dwellings (discontinued)
Topic: Construction, housing and property
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Responsible division
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Division for Construction and Service
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Definitions of the main concepts and variables
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Selling price is the registered sales value according to information from the Norwegian Cadastre sytem (Matrikkelen), exclusive the document duty.
Assessed value is the taxable vaue of the dwelling, and is included in the basis for wealth tax. If the assessed value amount to more than 30 percent of the market value the owner can claim a reduction in the assessed value. The owner needs to present sufficient documentation that the assessed value is high compared to market value.
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Standard classifications
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Dwelling types
- detached houses
- semi-detached houses, row-houses and linked houses
- flats (in multi-dwelling houses)
- other dwelling types
Geograpical zone:
- Oslo and Bærum
- The rest of Akershus
- Stavanger, Bergen and Trondheim
- The rest of the country
Administrative information
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Regional level
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National level, and divided into four geographical zones.
The four zones are:
- Oslo and Bærum - The rest of Akershus - Stavanger, Bergen and Trondheim - The rest of the country
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Frequency and timeliness
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Annual
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International reporting
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Not relevant
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Microdata
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Raw datafiles are stored.
Background
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Background and purpose
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The purpose of the statistics is to provide an overwiew of the relation between selling price and assessed value. The selling prize show how much the buyer has to pay for the dwelling, and the assessed value show the taxable value of the dwelling.
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Users and applications
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The main users are the Ministry of Finance, municipalities, counties and the media.
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Coherence with other statistics
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Tax statistics for personal taxpayers show assessed value of dwelling.
The statistics on trasfer of properties gives a current overview of transfers of real property in Norway.
The house price index gives a current overview of the price development on the housing market.
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Legal authority
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Statistics Act Section 3.2
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EEA reference
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Not relevant
Production
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Population
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The statistics include freehold recidences that are sold in the open market and where registration is made in the actual year. Housing cooperatives are not included. Information about the assessed value is from the Tax statistics. Units where assesed value is missing are not included in the material. Dwellings with an assessed value amounted to more than 70 per cent of the selling prize are also excluded form the material. Persons that own several dwellings are registered with one assessed value. By using the limit of 70 per cent we exclude some of these errors. In addition a few very expensive dwellings are excluded.
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Data sources and sampling
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Selling price is fetched from the Norwegian Cadastre sytem (Matrikkelen) and the Register of Deeds (Grunnboka). This includes all officially registered properties. Assessed value are gathered form the Tax statistics for persons.
Total census.
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Collection of data, editing and estimations
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Information from the the Norwegian Cadastre sytem (Matrikkelen) is obtained in electronic form. Information of assessed value is obtained on electronic form from the Directorate of Taxes.
Several machine controls are carried out.
No special method of estimation has been used.
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Confidentiality
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Not relevant
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Comparability over time and space
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Statistics for 1997 and 1999 were based on a combination of survey among persons that had bought and registered dwellings the actual year, and information from the Norwegian Cadastre sytem (Matrikkelen). Only units that answered the survey were included in the statistics. The survey was ended in 2002, and since then the statistics is based on information from the Norwegian Cadastre sytem (Matrikkelen). The number of sales included is therefore higher now than in the earlier statistics.
In 1997 and 1999 information about marriages and cohabiting were used to add assessed value in cases where one dwelling had more than one owner. From 2004 information about ownership is used to aggregate the assessed value of the dwelling.
Accuracy and reliability
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Sources of error and uncertainty
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One possible source of errors is incorrect reporting by the respondent to the tax autorities. Information reported in connection with registration of title to property is considered to be reliable. Misclassification of type of property and type of dwelling may occur.
In cases where a person owns more than one dwelling the assesed value of more than one dwelling can be compared to the selling price of one dwelling.
There are stringent demands to registration of real estate. Delay in registration may result in that a few sales are registered to late to be included in the statistics.
Not relevant.
Not relevant.