diff --git a/docs/Characteristics.md b/docs/Characteristics.md
index c7c7723..68017bb 100644
--- a/docs/Characteristics.md
+++ b/docs/Characteristics.md
@@ -142,3 +142,4 @@ volumeSiaAvv | Volume SIA-AVV in m³ | positiveDecimal
 volumeSiaGv | Volume SIA-GV in m³ | positiveDecimal
 yearBuilt | Year of construction, in four digits. | year
 yearLastRenovated | Year of last renovation, in four digits. | year
+isVatOpted | A way to indicate whether a property is opted to tax or not. This information is relevant predominantly for the transaction of investment properties. | [applicable](#type-applicable)
diff --git a/examples/full.xml b/examples/full.xml
index 33616bc..88c21e2 100644
--- a/examples/full.xml
+++ b/examples/full.xml
@@ -165,6 +165,7 @@
         <volumeSiaGv>123.45</volumeSiaGv>
         <yearBuilt>2009</yearBuilt>
         <yearLastRenovated>2019</yearLastRenovated>
+        <isVatOpted>applies</isVatOpted>
       </characteristics>
       <created>2012-12-13T12:12:12</created>
       <development>full</development>
diff --git a/schema/schema.xsd b/schema/schema.xsd
index 80695a3..d2d25e1 100644
--- a/schema/schema.xsd
+++ b/schema/schema.xsd
@@ -669,6 +669,11 @@
           <xs:documentation>Year of last renovation, in four digits.</xs:documentation>
         </xs:annotation>
       </xs:element>
+      <xs:element name="isVatOpted" type="applicable" minOccurs="0" maxOccurs="1">
+        <xs:annotation>
+          <xs:documentation>A way to indicate whether a property is opted to tax or not. This information is relevant predominantly for the transaction of investment properties.</xs:documentation>
+        </xs:annotation>
+      </xs:element>
     </xs:all>
   </xs:complexType>
   <xs:complexType name="person">