Detailed description
If you inherit, receive as a gift, or otherwise acquire real estate in Hamburg and no consideration has been given for it, or if such consideration cannot be determined, a standardized assessed value must be determined for the purposes of inheritance, gift, or real estate transfer tax. This valuation is carried out by the tax authorities.
This needs-based valuation has as its target value the "fair market value" on the valuation date (i.e. the date of death or the date of gift or acquisition).
In this context, "fair market value" is the tax law term for the price that could be obtained in ordinary business transactions (market value).
The tax-based valuation of real estate uses values or individual value factors determined by expert committees according to building regulations, depending on the specific type of property and the legally prescribed valuation method. This approach generally comes very close to the "market value." However, it is a standardized procedure that allows the tax authorities to quickly assess a large number of properties. The tax authorities do not prepare individual appraisals for each property. Therefore, in some cases, there can be significant deviations from the market value, as structural features are not considered in this procedure. This is a key difference compared to appraisals by certified experts.
You cannot request the property valuation; it is carried out automatically by the authorities in accordance with legal regulations. You are obligated to provide information and cooperate in the process.