In 2020, 143,337 households sent the tax administration a declaration of tax on real estate wealth (IFI), against 139,149 in 2019, according to the published figures on July 12 by the General Directorate of Public Finances (DGFIP). Or an increase of 3%. The total amount of tax collected by the State under these 2020 declarations is also up slightly over one year, by 4.4%, to 1.56 billion.
The IFI, which replaced the solidarity tax on wealth (ISF) in 2018, concerns households whose real estate assets owned in France have a taxable value greater than 1.3 million euros (assets calculated by deducting the debts and 30% of the value of the main residence).
According to the tax authorities, the average amount paid in 2020 is almost 11,000 euros per household. In detail, the median IFI is a little less than 4,000 euros (3,835 euros) for the 46% of “IFI” households having declared assets of less than 1.8 million, but close to 200,000 euros. (195,730 euros) for the 0.40% who declared more than 15 million.
69 years on average
Who paid for the IFI in 2020? Unsurprisingly, the declarants are often aged – 69 years on average (the IFI being a tax paid by tax household, the DGFIP takes into account the age of the first declarer of the tax household). 33.4% of “IFI” households fall within the 65-74 age group and 32.8% that over 75 years. Conversely, those under 45 represent only 2.6% of the total households affected by this wealth tax.
“The majority of IFI households reside in Ile-de-France, in the big cities of the metropolitan territory or abroad”, notes the DGFIP. Thus, among households having declared income tax in Paris, 2.58% are subject to the IFI, this is the highest departmental rate for taxpayers residing in France, ahead of Hauts-de-Seine. at 1.38%. These two departments group together around a third of the “IFI” households.
Outside Ile-de-France, the Alpes-Maritimes have the highest rate of “IFI” outbreaks (0.70%). The lowest rate in mainland France is found in Haute-Marne, Meuse, Ardennes, Ariège and Haute-Saône (0.05%). The rate is particularly high among French residents abroad, 2.7%.
Among the households having declared the IFI in 2020 and having declared income in France for the year 2019, a quarter has taxable income below 62,000 euros and a quarter has taxable income above 163,000 euros.
The weight of the main residence in the assets taxable to the IFI of the households concerned decreases with the level of the real estate assets: it is almost 30% for assets between 1.3 and 2.5 million euros, against a little more than 6% for assets over 10 million euros. Conversely, the weight of property held indirectly (via funds for example) increases sharply with the level of assets, from 17% for “small” assets to 56% for the largest.
Finally, the DGFIP indicates that the “IFI” households in 2020 declared an amount of donations to organizations of general interest equivalent on average to 0.23% of their taxable real estate assets. Donor households among “IFI” households were nearly 27,000 in 2020 – just under 20%. These donations give the right to a 75% IFI reduction (limited to 50,000 euros).