In 1563, when the Northern Seven Years' War broke out, the Swedish burned the town themselves to prevent Denmark from capturing it, and Denmark took control of Älvsborg Fortress. The war ended with the Treaty of Stettin (1570), which obliged Sweden to pay 150,000 "riksdaler" to ransom the fortress of Älvsborg. To pay this extraordinarily high amount of money, Sweden heavily taxed all moveables in the country, resulting in further impoverishment of the war-torn population. Unburned towns had to pay one twelfth, peasants one tenth, burned down towns one eighteenth of their properties' value. In 1603, the adjacent town ("Gothenburg 4") was again relocated to the site of the channel opposite Älvsborg Fortress. Built by Charles IX of Sweden, it was the first town named "Göteborg". The town was annihilated by Denmark in 1611, who retained possession of Älvsborg between 1612 and 1619.