Casatax Geneva 2024: Definition
What is Casatax?
Casatax 2024This is the new version of the solution devised by the canton of Geneva to facilitate the acquisition of property, which can often be very costly. First introduced in 2004, this legal measure aims to encourage and facilitate the purchase of real estate in Geneva.
For what?
20 years later, it's still difficult to buy a house or an apartment in the canton, which is why this measure has been revised downwards. increase. Before Casatax 2024, if the purchase price of your principal residence was less than CHF 1,000,000, your selling costs were reduced by CHF 15,000.
From the 1stst March 2024 onwards, the purchase price must be equal to or less than CHF 1,359,903 with a reduction in selling costs of CHF 20,399.
Casatax 2024: Benefits
Casatax 2024 has many benefits for people wishing to buy a property in Geneva. The advantages are as follows:
- Increase in ceiling from CHF 1,000,000 to CHF 1,359,903
- Selling costs reduced by CHF 20,399
- Mortgage loan creation fees cut in half
- Ease the financial challenge of buying a house or flat in Geneva
Conditions to Benefit from Casatax 2024
However, not everyone can benefit from Casatax 2024 in Geneva. Certain conditions have to be met.
First and foremost, the property must be the main residence of the purchaser, who must reside there for at least 3 years, within 2 years from the purchase of the property.
Furthermore, if the price of the property exceeds CHF 1,359,903, the buyer cannot benefit from Casatax 2024. The buyer must also be natural person ; it cannot be a legal entity.
Sample Calculation
To illustrate what we mean, let's take the maximum purchase price for which a buyer can benefit from the Casatax system. The calculations are as follows:
- Purchase price
CHF 1,359,903
- 20% equity (mortgage)
CHF 1,087,922
- Registration fees of 4%
CHF 54,396
- Casatax exemption
CHF 20,399
- Total after rebates
CHF 33,997
- Mortgage schedule fee of 2.5%
CHF 27,198
- Casatax exemption from 50%
CHF 13,599
- Total after rebates
CHF 13,599
- Total without Casatax
CHF 81,594
- Total with Casatax
CHF 47,596
- Savings
CHF 33,998
As you can see, the new Casatax system allows you to make significant savings for the purchase of a house or apartment in the canton of Geneva. Before March 1, 2024, you would not have been able to benefit from this assistance for a property in excess of CHF 1,000,000.
Conclusion
Casatax 2024 is far more advantageous than the previous system, which no longer took into account the present difficulty to finance a real estate project in Geneva.
Now you have more help at your disposal when you set out to buy a house or apartment in the canton.
Frequently Asked Questions
What's new with Casatax 2024?
The main changes to the system are the purchase price, which must now be equal to or less than CHF 1,359,903, and a reduction in selling costs of CHF 20,399.
Can I benefit from Casatax 2024 if I am a legal entity?
No, only an individual can benefit from this system.
I want to buy a house in Geneva for CHF 2,000,000. Can I benefit from the discounts offered by Casatax?
No, the price of the property you wish to purchase must not exceed CHF 1,359,903.
What are the conditions for benefiting from Casatax?
To benefit from Casatax, you must :
- Want to buy a property in the canton of Geneva as your primary residence
- Be a natural person
- Respect a certain purchase price limit (CHF 1,359,903)
