Five billion in tax refunds for homeowners

The Valuation Agency in Denmark has issued offers for the repayment of five billion Danish kroner to more than 300,000 property owners who overpaid property taxes from 2011-2020, reports Avisen Danmark. Tax Minister Jeppe Bruus stated that these homeowners will be compensated with interest and those who underpaid will not receive an additional bill. On average, each homeowner will receive about 16,000 kroner back. The highest average returns of 29,000 kroner are in the municipalities of Sønderborg, Struer, and Vordingborg. Overall, approximately 11.3 billion kroner are expected to be repaid. This repayment is happening parallel to the agency’s process of sending out the final 2020 property assessments, which will base the taxation for 2021-2023. Delays have pushed the final 2020 assessments, and the 2024 property tax will be initially based on a provisional basis using the 2022 valuation expected to be finalized by 2025.