How the decline in real estate will impact the IFI

2023-06-07T15:51:31.509Z

Highlights: Falling prices may exempt some from paying this tax. But taxpayers should nevertheless expect tighter controls. In 2022, 164,000 households received from the tax authorities a tax notice on real estate wealth. In view of the situation on the real estate market, they could be tempted to revise downwards the value of their properties in their declaration, taking into account the weakening of selling prices in recent months. But this choice can be risky.Indeed, taxpayers must make their declaration on the basis of thevalue of the property.

Falling prices may exempt some from paying this tax. But taxpayers should nevertheless expect tighter controls.

Deadline to make his income tax return, this Thursday is also for taxpayers subject to the real estate wealth tax (IFI) the deadline to declare the value of their property to the tax authorities. But with the new dynamics of the real estate market, not so easy to estimate your property. Real estate prices are in free fall throughout the France, due in particular to the rise in borrowing rates that weigh on access to credit for potential buyers.

In 2022, 164,000 households received from the tax authorities a tax notice on real estate wealth, according to figures from the DGFIP. In view of the situation on the real estate market, they could be tempted to revise downwards the value of their properties in their declaration, taking into account the weakening of selling prices in recent months. But this choice can be risky.

" IFI: how to declare your assets held abroad according to your tax domicile

Indeed, taxpayers must make their declaration on the basis of the value of the property...

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Source: lefigaro

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