When someone dies, the property must be declared in the estate return. A certified valuation gives you legal certainty and avoids disputes with VLABEL.
When someone dies leaving immovable property, that property must be included in the estate declaration filed with the Flemish Tax Authority (VLABEL). The value you declare has a direct impact on the inheritance tax the heirs will pay.
What is a VLABEL certified valuation?
A VLABEL valuation is an official property report drawn up by a certified valuer-expert. The valuation establishes the sale value of the property on the date of death. VLABEL recognises this valuation as binding — in principle the tax authority accepts the declared value without further scrutiny.
When is a certified valuation advisable?
A certified valuation is always advisable where the value of the property is substantial or hard to assess — villas, apartment blocks, commercial property, but equally ordinary family homes where the heirs want the assessment to be as accurate as possible.
How does the procedure work?
The certified valuer visits the property, analyses the market value on the basis of comparable transactions and draws up a detailed report. That report is submitted to VLABEL as an annex to the estate declaration. The turnaround is usually 5 to 7 working days.
Do you have questions about an estate valuation? Feel free to contact Dekoninck Vastgoedexperts.