All you have to know about Casatax
April 7, 2023
In order to facilitate access to property in the canton of Geneva, there is the "Casatax" law. This legal measure has existed since 2004 to help people wishing to acquire a property in Geneva. It is particularly advantageous because it significantly reduces the costs associated with the acquisition of real estate. In addition, registration fees and the creation of mortgage certificates are reduced. This therefore makes it an opportunity not to be missed.
What are the conditions for benefiting from Casatax?
If you wish to be able to benefit from Casatax as well as a reduction in the costs associated with the purchase of real estate in the canton of Geneva, you must meet the following conditions:
- First of all, you have to be a natural person.
- In addition, it is necessary that the property purchased serves as the principal residence of the purchaser. Consequently, second homes, bare land without a construction contract and agricultural buildings are not eligible.
- The purchase of a rental property cannot be taken into account. And this, even if the buyer wishes to live in one of the apartments.
- Finally, it is imperative that the purchaser occupies the accommodation for a minimum period of three years. The installation in the property must be done within two years of the signing of the sales contract.
- It is essential to respect the above conditions under penalty of having to reimburse the entire reduction. To know also that one cannot claim it a posteriori.
The amount of Casatax in 2023
Every year since 2004, the Casatax amounts have been reassessed and adapted according to the Geneva construction price index. From March 1, 2023, the maximum price for the acquisition of real estate in the canton of Geneva is set at CHF 1,335,749.- compared to CHF 1,258,454.- previously. The reduction in registration fees has also been increased until CHF 20,036.- compared to CHF 18,877.- previously. This corresponds to an annual variation of approximately +6.1%. In other words, if you are thinking of buying a property in the canton of Geneva, this is an opportunity not to be missed.