Taxpayers whose real estate assets, after deduction of debts, exceeds 1.3 million euros are required to declare it at the same time as their income, under the real estate wealth tax (IFI). Buildings, houses, land, shares in real estate investment companies (SCPI), etc. : it is their market value at 1er January 2022 which must be retained.
This corresponds to the price at which these properties could have been sold on the first day of the year, taking into account their characteristics (location, surface area, standing, state of maintenance) and the situation of supply and demand. .
“The main difficulty of the IFI declaration is to correctly assess its assets, in particular those held through a civil real estate company [SCI] », explains Sandrine Quilici, Director of Wealth Engineering at Pictet Wealth Management.
To find terms of comparison, you can now consult the same sources of information as the tax authorities, in the Patrim database, accessible to taxpayers from their personal space on the site. Impots.gouv.fr. Or with the property values request service (Cadastre.data.gouv.fr/dvf).
Discounts to be applied
Don’t forget to deduct 30% of the value of your principal residence. “This reduction does not apply if it is held within the framework of an SCI, m-alertme Quilici. But it is possible to practice an illiquidity discount of around 10% to 15%, to take into account the fact that SCI shares are more difficult to sell than real estate. »
Ditto for property held in joint ownership: a discount of 10% to 20% may be applied. “However, this is not systematic, the judges have refused it to property held in joint possession by two spouses separated from property or to joint ownership between a parent and his child”, precise Mme Quilici.
On the other hand, there is no discount for assets held in usufruct, to be declared by the usufructuary for their value in full ownership. The main exception concerns the surviving spouse. In the absence of a gift to the last living or of a testamentary disposition in his favour, he must declare only the value of the usufruct received in the estate of the deceased spouse, the children being taxable on the value of the bare ownership (s they are indebted to the IFI).
Debts to be deducted
What are deductible debts? Only those relating to acquisition, repair, maintenance and expansion expenses incurred on taxable property. For example, bank loans in the process of being reimbursed, up to the capital remaining due on the 1er January, or the sums remaining due to craftsmen on that date.
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