The wealth tax is mostly and envy tax, it does not increase total tax revenue and leads to people do overinvest in property (house and cabin) to reduce the taxable wealth. For people starting a business you have to move if you get VC money as you have to pay tax on unrealized gains.

The Ministry of Finance has calculated that expatriates took NOK 142 billion in deferred income out of the country in 2022 and 2023. Given the current tax rate of 38 percent, this means that we will lose more than NOK 50 billion in tax if we are unable to get them back home before 2027. On the other hand, we lose around NOK 0.77 billion in tax each year because expatriates are exempt from the high and uniquely Norwegian wealth tax. https://www.nhh.no/nhh-bulletin/artikkelarkiv/2025/april/lyt...

The wealth tax increase has lead to less total tax income due to the income tax not being paid to Norway any longer.

As usual the upper middle class pays most of the wealth tax, 12% of the population paid wealth tax. If you have wealth beyond 170.000$ (1.76 million NOK) you pay 1% of the amount above. Private home and second house (cabin) has reduced value. Average salary in Norway is around 700.000 NOK.