What does the abolished imputed rental value mean in the tax return until 2028?

On September 28, 2025, the Swiss people and cantons abolished the imputed rental value on owner-occupied properties. This means that the imputed rental value will disappear from tax returns.

When does the abolished imputed rental value come into effect?

Expected in 2 to 3 years, i.e. 2028. We will process the 2028 tax return in 2029.

What can you do until then?

It is therefore advisable to prioritize upcoming maintenance payments. This applies in particular to Energy saving measures, which often require significant investments. Starting in 2028 and until 2050, cantons may grant special deductions for energy and environmental protection measures (but not for federal tax purposes).

Likewise, contributions should be made to the condominium renovation fund. These deductions can then be brought forward.

Amortization of the mortgage

Amortization is not recommended in the current low interest rate environment. From 2028 onwards, tax planning and optimization must be carried out with the interest rates then in effect. Instead, we recommend To optimize mortgage and real estate financing yourself.

Frequently asked questions and answers. What applies?

• No longer applies imputed rental value (from approx. 2028) for owner-occupied primary and secondary properties.

• No maintenance costs on owner-occupied properties, neither at the federal nor cantonal level.
• Maintenance costs and mortgage interest on rented properties are still tax deductible. However, the calculation of the interest deduction is more restrictive. Private debtors without investment properties no longer deduct interest on debt for tax purposes.

Exceptions for first-time buyers in the first 10 years

First-time buyers of owner-occupied property can claim a limited interest deduction for 10 years. The maximum deduction is CHF 10,000 for married couples and CHF 5,000 for single individuals, with the deduction being reduced by 10% of the original amount each year.

Exceptions for holiday apartments

Cantons and municipalities have the option of introducing a property tax on second homes to compensate for tax shortfalls.

Imputed rental value in the tax return

Often, the imputed rental value with a mortgage at moderate interest rates and average maintenance was a zero-sum game:

Tax optimization was considered particularly important in cases of high mortgages, interest rates and high maintenance and renovation needs.

Impact on property gains tax

Regarding capital gains tax, no changes to the definition of value maintenance and value appreciation are expected. However, all receipts for work on and around the house should always be kept, especially from 2028 onward.

Sources: Swissinfo, ZKB, FTA, Voting documents.