Tax: how do you declare your IFI as accurately as possible?

Start signal. All taxpayers with real estate assets of more than EUR 1.3 million must complete their property tax return (IFI) at the same time as their income tax return. The deadline is between May 24 and June 8, depending on the department of the residency. So there is still a good month for the 140,000 households involved to roll up their sleeves. Because in contrast to the return, which is largely completed in advance by the Tax Authorities, the IFI really asks the taxpayer to do substantive work.

On January 1, 2022, he must estimate his own assets and debts, calculate the tax to be paid and complete his tax return online. A delicate exercise: you have to find the right balance between a tight assessment to prevent your taxable assets, and therefore the tax owed, from being inflated, and a clear understatement that can lead to recovery. “Do not hesitate to use all available means to evaluate your property, recommends Patrick Janel, the private management manager of the consultancy Equance. The Patrim site of the tax authorities, so that you can consult recent sales in your area from your VAT number .

Discounts and exemptions

The main residence benefits from a reduction of 30%: the taxpayer therefore only registers 70% of its value in its tax return. Other real estate (second home, rental home, parking lot, warehouse, etc.) can benefit from a discount in certain cases. “There is no precise rule for real estate investment, but rather a market practice,” specifies Marion Calmette, deputy director of asset engineering at Société Générale Private Banking. Case law has accepted a discount because leased assets are not as liquid as empty.”

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