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| In Zug it seems to be simply the market value of the property, but is there any allowance for mortgage etc? If not, then the extra almost 1% of gross property value to pay each year makes buying much less appealing. Can anyone help clarify this? | |
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You will be paying wealth taxes on money sitting in the bank anyway. Getting a mortgage will offset some of your assets and will actually reduce your taxable wealth.
The deemed rental values make buying much less appealing. This amount is around the same as my part-time income and i'll be paying taxes on it forever (unless they get around to changing the law).
Maintenance is the biggest unexpected expense for us. As son as our house was 10+ years old all the appliances (well the fridge, powered shower, cooktop, dishwasher, washing machine, electric blinds) started breaking.