The obligation to report lies with the owner and should be fulfilled promptly after completion or a significant structural change, in order to avoid fines for late notification.
The tax office then sets the new property tax value retroactively to the beginning of the calendar year following completion.
Until the formal revaluation, the previous, usually lower property tax value for an undeveloped or differently used property remains applicable for the time being.
Property tax already paid during the ongoing assessment period based on the old value is generally recalculated retroactively in the event of a retroactive update, with corresponding back payments or refunds.
Owners should therefore expect a retroactive adjustment of the assessment notice following major construction measures and should proactively set aside the necessary funds for this.
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