---
title: "NJOP, Market Price and Bank Appraisal: The Difference and When Each Is Used"
description: "NJOP is used for tax, market price for the sale, and appraisal for the mortgage limit. Learn the three numbers, which tax uses which, and why they rarely match."
url: "https://vorneo.id/zh/artikel/njop-harga-pasar-dan-appraisal/"
lang: "zh"
image: "https://images.unsplash.com/photo-1565583673900-1cd9320f6c8b?auto=format&fit=crop&w=1280&q=70"
---

# NJOP, Market Price and Bank Appraisal: The Difference and When Each Is Used

Vorneo Property · [法律与文件](https://vorneo.id/zh/artikel/topik/legalitas/) · 2026-11-06

When you buy or sell a house you'll meet three numbers for the same land and building: the NJOP on the tax bill, the price the seller and buyer agree on, and the appraisal value from the bank. They rarely match, and that is normal.

Trouble starts when people use the wrong number for the wrong purpose. A seller cuts the price after looking at NJOP, or a buyer is surprised that the mortgage limit is below the house price.

This article explains what each number is, who sets it, and which one is used for what.

## Three numbers, three jobs

| Number | Who sets it | Used for |
|---|---|---|
| NJOP | The regional head, through the PBB valuation process | Basis of PBB, and a comparison floor for BPHTB |
| Market or transaction price | Seller and buyer, by bargaining | The sale itself, and the BPHTB basis in a sale |
| Appraisal value | An appraiser appointed by the bank | Basis of the mortgage limit and collateral |

Each number answers a different question. NJOP answers how much land and building tax you pay each year. Market price answers what a buyer will pay and a seller will accept. Appraisal answers what the collateral is worth in the bank's eyes.

## NJOP: the value for tax

Nilai Jual Objek Pajak (NJOP, taxable object sales value) is the basis for urban and rural land and building tax (PBB-P2). Under Law No. 1 of 2022 (Article 40):

- NJOP is set through the PBB-P2 valuation process, and its amount is set by the regional head.
- NJOP is set every three years, except certain objects that can be set yearly as the area develops.
- There is a tax-free NJOP, at least Rp 10 million per taxpayer. If you own more than one object in one regency or city, the deduction applies to only one of them.
- The NJOP used to calculate the tax is set between 20 percent and 100 percent of NJOP after the tax-free amount.
- The PBB-P2 rate is set by regional regulation, at most 0.5 percent (Article 41).

So NJOP is not a sale price. Regions are free to choose the percentage within those limits, so a PBB bill in Banjarmasin and one in another regency can't simply be compared.

NJOP is land area times the NJOP per square metre of land, plus building area times the NJOP per square metre of building. The figures are on the PBB tax notice (SPPT, Surat Pemberitahuan Pajak Terutang). Because it is only reset every few years, NJOP often lags behind the market.

## Market price: what is actually paid

Market price comes from asking prices, nearby comparables, the condition of the house, and the situation of seller and buyer. There is no official formula.

To set a sale or offer price, first see [how to set a sale price](/en/artikel/menentukan-harga-jual/) and [land prices in Banjarmasin](/en/artikel/harga-tanah-banjarmasin/). Don't use NJOP as your only benchmark.

## Appraisal: the value in the bank's eyes

When you apply for a mortgage (KPR), the bank values the collateral through an appraiser, either in-house or external. The appraiser looks at:

- comparable sales near the site,
- the physical condition of the building,
- road access, surroundings and permitted use,
- whether the documents and permits fit.

The result is often lower than the agreed price. The bank calculates the loan limit from the value it accepts, not from the price written in the agreement. If the gap is large, the buyer must cover it with a bigger down payment, or ask the seller to cut the price.

The full set of options when that happens is in [a bank appraisal lower than the house price](/en/artikel/appraisal-kpr-lebih-rendah/).

## Which tax uses which number

**PBB (the owner, every year).** Uses NJOP, as described above. The bill doesn't change because your sale price goes up or down.

**BPHTB (the buyer, once, when buying).** Under Article 46 of Law 1/2022:

- The taxable acquisition value (NPOP) for a sale is the transaction price.
- For inheritance, grants and exchanges, market value is used.
- If the NPOP is unknown or lower than the NJOP used for PBB in the year of the acquisition, the NJOP is the basis.
- That basis is reduced by a tax-free NPOP of at least Rp 80 million for a taxpayer's first acquisition in that region, and at least Rp 300 million for inheritance or a bequest to a direct-line relative one degree up or down, including a spouse. The exact figures are set by regional regulation.
- The BPHTB rate is at most 5 percent, also set by regional regulation (Article 47).

Because NJOP works as a floor for BPHTB, writing a price below NJOP in the deed doesn't reduce the buyer's tax. It is also not proper practice. Other costs that come with a sale are covered in [hidden costs of buying a house](/en/artikel/biaya-tersembunyi-beli-rumah/).

**Seller's income tax.** The seller pays final income tax (PPh) on transferring land and buildings. Under Government Regulation 34 of 2016 the rate is generally 2.5 percent of the gross transfer value, with a lower rate for simple houses and simple flats. Which value applies to your transaction is best asked of the PPAT. A summary of all the taxes is in [taxes on buying and selling property](/en/artikel/pajak-jual-beli-properti/).

## Example: one house, three numbers

A worked example (the numbers are only illustrations):

- The house's NJOP is Rp 400 million.
- Seller and buyer agree on Rp 600 million.
- The bank's appraiser values it at Rp 540 million.

What happens:

- BPHTB is calculated from Rp 600 million, because the transaction price is higher than NJOP, then reduced by that region's tax-free NPOP.
- The bank calculates the loan limit from Rp 540 million, not Rp 600 million.
- The Rp 60 million gap between price and appraisal is not financed by the bank. The buyer covers it from the down payment, or bargains the price down.
- The yearly PBB is still calculated from NJOP.

One house, three numbers, and none of them is wrong.

## Common mistakes

- **Treating NJOP as the fair price.** A house with a low NJOP can be worth far more, especially if renovated or on a busy road.
- **Assuming the bank will accept the market price.** The mortgage limit doesn't automatically follow the agreed price.
- **Writing a lower price in the deed.** Besides the legal risk, a value below NJOP doesn't reduce the BPHTB basis.
- **Not checking the latest SPPT.** Get the current year's PBB proof, and check for arrears with [checking PBB arrears before buying](/en/artikel/cek-tunggakan-pbb-sebelum-membeli/).

## Practical steps

1. Ask for a copy of the latest PBB SPPT and note the NJOP for land and building.
2. Collect real comparable prices near the site.
3. If you use a mortgage, ask the bank for an appraisal estimate before agreeing on a price.
4. Ask the PPAT to calculate BPHTB and income tax with the figures that apply in your region.
5. Set aside the gap between price and appraisal as extra cash.

Other terms that come up are in the [property glossary](/en/artikel/kamus-istilah-properti/). If you want to sell a house and need help setting the price, Vorneo takes [titip jual](/en/titip-jual/) listings (you hand us the property to sell).

## 常见问题

### Is NJOP the same as the sale price of a house?

No. NJOP is a value set by the regional head as the basis for land and building tax, and it is set every three years, except for certain objects that can be set yearly. The sale price comes from bargaining between seller and buyer, so it is often higher and sometimes lower.

### Which taxes use NJOP?

Land and building tax (PBB) uses NJOP as its basis. BPHTB, the buyer's tax, uses the transaction price for a sale, but if the price is lower than NJOP or unknown, NJOP is used. For the seller's income tax, ask the PPAT which value applies to your transaction.

### Why can the bank's appraisal be lower than the house price?

The bank's appraiser looks at comparable sales, physical condition, access and whether the documents fit, not only the agreed price. The mortgage limit is based on the value the bank accepts, so the gap has to be covered with a bigger down payment or a lower price.

## 相关文章

- [AJB Costs and PPAT Fees: The Breakdown and Who Pays](https://vorneo.id/zh/artikel/biaya-ppat-dan-akta-jual-beli/)
- [KDB, KLB and GSB Explained: How Much Can You Build on Your Land](https://vorneo.id/zh/artikel/kdb-klb-dan-gsb/)
- [Mixed Marriage and Property: The Rights of an Indonesian Married to a Foreigner](https://vorneo.id/zh/artikel/perkawinan-campuran-dan-properti/)

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