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Olivier Weber

ABOUT THE AUTHOR

Olivier Weber graduated from the University of Berne, qualified as an attorney-at-law and was admitted to the Bar. He started his tax advisor career within a big 4 accounting firm where he obtained his diploma as Swiss certified tax expert in 2002. 2010 he joined KENDRIS Ltd. as partner and shortly after was promoted Head of Tax. He serves as member of the board of director of KENDRIS and some selected active companies-. He consults individuals and corporates with a focus on national and international taxation, negotiations with tax authorities, appeal proceedings as well as succession planning, including financing concepts and refinancings. Olivier Weber regulary lectures on tax topics and is president of the examination commission for Swiss certified tax experts.
Directive 2026

by Olivier Weber | Sep 24, 2025 | Tax

k-flash audio commentDirective 2026
k-flash audio commentDirective 2026

The case

As of 1 January 2026, properties in the Canton of Zurich will be revalued for tax purposes. The property tax values and imputed rental values will be adjusted in order to reflect price increases in the real estate sector, and they are expected to increase significantly in most cases because the previous values are largely no longer appropriate. Market price developments since the last valuation (2009) are decisive.

Note: The imputed rental value tax might be abolished, depending the outcome of the vote on 28 September 2025 on the property tax on second homes, while the expected increase in the property tax according to the 2026 Directive will remain.

Source: Oliver Weber

The commentary

The property tax value of properties will increase by an average of approximately 48 %. The imputed rental value for single-family homes will increase by an average of 11 %, and that for condominiums by 10 %. This will increase both the property tax and – via the imputed rental value – taxable income. For this reason property owners will pay more taxes overall. As some property owners will be severely affected, the canton is planning a regulation to mitigate unreasonable burdens.

Example – City of Zurich: Current property tax value (2009 directive): CHF 1,000,000; Current imputed rental value: CHF 30,000; City of Zurich maximum progression. Changes from 2026: Increase in property tax value by + 48 % (CHF 480,000 x 0.3 % x 217 %): Increase in property tax by CHF 3,125. Increase in imputed rental value: + 11 % (CHF 3,300 x 13 % x 217 % + CHF 3,300 x 11.5 %): Increase in income tax by CHF 1,310. Tax increase: Property tax: plus CHF 3,125 annually; Income tax (imputed rental value): plus CHF 1,310 annually. Total increase: approximately CHF 4,435 annually.

Note: This calculation is a simplified example. The actual tax amounts may vary, depending on individual circumstances, such as income, deductions and specific tax rates. For a precise assessment, we recommend you consult a tax advisor.

This publication has been prepared solely for information purposes and is does not constitute a recommendation, a solicitation, or an offer. The information on which this publication is based has been obtained from sources that we believe to be reliable and in good faith, but we have not independently verified such information and no representation or warranty, express or implied, is made as to its accuracy. All expressions of opinion are made as of the date of publication and may be subject to change without notice. k-flash and all related affiliates accepts no liability or responsibility whatsoever for any consequential loss of any kind arising out of the use of this publication or any part of its contents. The use of this publication should not be regarded as a substitute for the exercise by the recipient of his or her own judgment. This publication is not directed to any person in any jurisdictions that prohibit such publication.
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