2023-04-28 13:08:39
Posted Apr 28, 2023, 12:23 PMUpdated on Apr 28, 2023, 1:08 PM
The tax revenue from the real estate wealth tax (IFI) amounted to 1.8 billion euros in 2022. This is 10% more than in 2021, observes the General Directorate of Public Finance (DGFiP ) in a note made public on Friday. In 2022, 164,000 households were subject to this tax, an increase of 7.3% compared to the previous year.
To be subject to this contribution, which replaced the wealth tax (ISF) in 2017, it is necessary to justify a heritage exceeding in net value (after deduction of debts) 1.3 million euros.
Appearance of new foci
The tax services attribute these increases to the rise in the value of housing – “which amounts to 7.1% according to INSEE”. “This increase has resulted in the appearance of new households in the lower wealth brackets. The workforce is thus up by 6.3% among households whose assets are less than 2.5 million euros, ”indicates the tax authorities.
But “on the other hand, the heritage of households already present at the IFI tends to increase”, observes the DGFiP. Nine out of ten households subject to the IFI in 2021 are still subject to it in 2022 and their wealth has increased by 4.1% on average. But despite this increase, this revenue remains lower than that reported by the former ISF, to which the number of households subject was greater and whose revenue was around 5 billion euros.
Elderly owners residing in Ile-de-France
In 2022, households subject to real estate wealth tax have an average taxable income of 147,300 euros – for the 98% who are also subject to income tax. By way of comparison, the average income of households not subject to the IFI is 26,100 euros. The vast majority (73%) of taxpayers subject to the IFI have assets of less than 2.5 million euros, but 2% have assets of more than 7.5 million euros.
Regarding the profile of these owners, they are, unsurprisingly, older than average. They are on average 70 years old, reveals the DGFiP, against 54 years old for households subject to income tax. Households subject to the IFI mainly live in Paris and its most upscale suburbs, but also in certain seaside resorts on the Atlantic and Mediterranean coast and in the Alps.
However, it is among French expatriates that we find the highest concentration of taxpayers subject to the IFI. Indeed, 3.7% of residents abroad are subject to it, compared to 2.8% of Parisians, 1.6% of inhabitants of Hauts-de-Seine and 0.9% of inhabitants of Yvelines.
Next on the podium are residents of the Côte d’Azur (0.8%), Haute-Savoie (0.6%) and Var (0.6%). The Gironde department is in ninth position due to the presence of the city of Lège-Cap-Ferret, the fourth most expensive seaside resort in France.
Donations up 9%
The DGFiP also notes that donations to organizations of general interest, which had fallen sharply after the abolition of the wealth tax (ISF), are again on the rise, by more than 9% over one year. In total, taxpayers subject to the IFI gave 193 million euros this year, or about 6,200 euros per household.
But the increase in donations recorded this year is not only due to greater generosity from the wealthiest households. “This increase is explained both by the 7.5% increase in the number of donors and by that of average donations, for 1.8%”, specifies the tax authorities.
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