The Federal Council and Parliament recommend that the creation of a constitutional basis for cantonal property taxes on second homes be adopted on September 28, 2025. The bill is the prerequisite for a comprehensive reform of residential property taxation in Switzerland, which also aims to abolish the imputed rental value.
On September 28, the people and cantons will vote on an amendment to the constitution. This would allow the cantons to levy a special property tax on predominantly owner-occupied secondary properties (e.g. vacation homes).
Only if the constitutional amendment is adopted can the comprehensive reform of residential property taxation envisaged by the amendment to the law come into force.
At the current mortgage interest rate level of around 1.5 percent, the loss of revenue for the federal government, cantons and municipalities is estimated at around CHF 1.8 billion. From a mortgage interest rate level of around 3 percent, however, the estimates suggest that this would result in additional income for the public sector.
The estimate does not include the cantons' potential income from any property taxes on predominantly owner-occupied secondary properties.
The press release and other documents can be found here.
