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Old 07.02.2011, 15:12
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Tax question for property owners

This is a querstion for all you house/appartment owners out there...
Having bought our appt last year, we were sent the forms from the Tax office to assess the tax value and rentable income value for our appartment. We filled it in and sent it off...and heard nothing in return to say they agreed or diagreed on our assessment. Luckily I'd photocopied the forms so had the figures available for when we filled in our tax return. I know this may be canton-specific, but is this the same procedure for everyone? I'm quite surprised we never received any confirmation for the evaluation and I was quite lucky I copied the forms as there was no duplicates and no instruction on keeping a copy for ourselves on the form.
How often is this assessment made? I thought it would be every year, but nothing came through this time, so I will have to go back to the copies again. Seems somewhat of a bizarre way of doing things (without discussing the relative pros and cons of paying this tax in the 1st place, there are no Pros by the way ).
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Old 07.02.2011, 15:33
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Re: Tax question for property owners

A friend that lives in the same area as you do said that we might pay more tax after we get another toilet installed. Looking at their tax forms and laughing that they had to fill in how many kitchens, bedrooms and toilets they had, I would say you need to complete the forms once but let them know when any additions/changes are made to your property that may affect the value.

Here in Zug, the value is based on purchase price plus any additions since then.
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Old 07.02.2011, 15:43
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Re: Tax question for property owners

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Looking at their tax forms and laughing that they had to fill in how many kitchens, bedrooms and toilets they had, I would say you need to complete the forms once but let them know when any additions/changes are made to your property that may affect the value.

Here in Zug, the value is based on purchase price plus any additions since then.
Not only that, but we had to say how far we are from public transport, shops, noisy roads, railway etc, as well as the floor area and "effective" living area of the appartment. Funnily enough, the "tax value" of the flat came to about half what we paid for it and the rentable value was extremely low. What annoyed me last year was that they assessed a full year's rentable income, whereas we'd only lived there since September .
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Old 07.02.2011, 15:46
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Re: Tax question for property owners

I did that for our house. The assessment is done only once unless huge modifications introduced in appart/house giving it more value.
You have following choices:
- ask (by phone or letter) the tax department to give you more time to return your revenue tax form cause you're waiting for the appartment income evaluation
- put an approximate value (from previous owner) and add a letter to the tax form explaining that you'll send later the final appartment tax value

In any case call the tax department (sarine district in your case) to check why you did not receive the answer yet.
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Old 07.02.2011, 16:02
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Re: Tax question for property owners

A couple of years ago Schwyz re-assessed all homes in the canton - which meant that an inspector/ value-estimator came visiting.

The inspector already had copies of our sales contract and permits issued; he then asked for documents adn receipts relating to any additions/renovations we had done, as well as our Gebaude insurance policy.

And then he inspected and measured the whole house, top to bottom, and gardens too - taking copious notes. Gosh that was fun!


(Fortunately, that was just before the huge hike in home prices in my area. And fortunately, he seemed to enjoy the home-made Tollhouse cookies and coffee I had on offer. )
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Old 07.02.2011, 16:29
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Re: Tax question for property owners

Not quite canton-specific but rather auslander-specific, but we had to do a tax declaration on our world-wide assets, including a property in the UK.

Evaluation had to be every 5 years. In this instance, we just asked for the agent who manages the property - who are also real-estate agents - for a valuation. No major info needed, although this may be because it is overseas.

This was for Basel Stadt.

So given that it is an overseas property and Basel, you may choose to ignore it all as a load of irrelevant BS.
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Old 07.02.2011, 16:40
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Re: Tax question for property owners

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So given that it is an overseas property and Basel, you may choose to ignore it all as a load of irrelevant BS.

Quite

(too shor..)
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Old 07.02.2011, 18:56
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Re: Tax question for property owners

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Not quite canton-specific but rather auslander-specific, but we had to do a tax declaration on our world-wide assets, including a property in the UK.

Evaluation had to be every 5 years. In this instance, we just asked for the agent who manages the property - who are also real-estate agents - for a valuation. No major info needed, although this may be because it is overseas.

This was for Basel Stadt.

So given that it is an overseas property and Basel, you may choose to ignore it all as a load of irrelevant BS.

For non-CH properties the declared value will come into play should you sell the place. If you then declare a value grossly in excess of your declared value expect a tax correction.

Not an issue in some markets like UK and Ireland where properties are dropping in price right now though. I've had the same value since 1999 on my London place as currency variations have compensated for increased nominal GBPs.
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