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.

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