Imputed rental value (Eigenmietwert): abolished on 1 January 2029
The imputed rental value (Eigenmietwert) on owner-occupied homes is abolished on 1 January 2029; the current system applies until the end of 2028. The reform was made possible by the vote of 28 September 2025: voters and cantons accepted the linked proposal on a cantonal property tax on second homes with 57.7% yes (turnout 49.5%). The Federal Council set the date of entry into force on 1 April 2026.
Timeline of the reform
- 2 February 2017Parliamentary initiative 17.400 of the Council of States’ Economic Affairs and Taxation Committee: a change of system in the taxation of home ownership. parlament.ch
- 25 August 2021The Federal Council proposes to enter into the committee’s bill. estv
- 21 September 2021The Council of States approves the change of system as the first chamber. estv
- 14 June 2023The National Council also approves the bill. estv
- 20 December 2024Final vote in Parliament: the federal act on the change of system and the federal decree on property taxes on second homes. estv
- 28 September 2025Popular vote on the federal decree (mandatory referendum, majority of voters and of cantons): accepted. bk.admin.ch
- 1 April 2026The Federal Council brings the reform into force on 1 January 2029, giving the cantons time to adapt their laws. admin.ch
- 1 January 2029Entry into force: the imputed rental value on owner-occupied homes ends. admin.ch
What the vote was about
The vote was on the «Federal decree on cantonal property taxes on second homes» (federal decree on cantonal property taxes on second homes). It allows the cantons to levy a special property tax on second homes mainly used by their owners, to make up for the tax revenue that is lost. The federal act on the change of system in home ownership taxation, which abolishes the imputed rental value, is legally linked to this decree: it could only enter into force together with it. With the yes vote, the reform therefore went ahead.
Yes share by canton
Result by canton
A majority voted yes in 19 of the 26 cantons and no in 7; in cantonal votes, 16.5 to 6.5. The French-speaking cantons and Basel-Stadt rejected it.
| Canton | Yes | Turnout | Result |
|---|---|---|---|
| Appenzell Inner Rhodes | 75.1% | 48.6% | accepted |
| Appenzell Outer Rhodes | 73.4% | 55.3% | accepted |
| Thurgau | 72.4% | 53.1% | accepted |
| St. Gallen | 71.7% | 50.7% | accepted |
| Glarus | 70.1% | 45.2% | accepted |
| Aargau | 69.0% | 51.8% | accepted |
| Schwyz | 68.6% | 57.2% | accepted |
| Obwalden | 68.2% | 54.5% | accepted |
| Nidwalden | 68.0% | 56.3% | accepted |
| Lucerne | 67.5% | 53.2% | accepted |
| Grisons | 67.1% | 47.6% | accepted |
| Uri | 65.5% | 46.5% | accepted |
| Zug | 65.0% | 54.5% | accepted |
| Solothurn | 62.2% | 51.6% | accepted |
| Zurich | 61.2% | 52.0% | accepted |
| Basel-Landschaft | 60.5% | 50.0% | accepted |
| Schaffhausen | 58.7% | 68.1% | accepted |
| Ticino | 56.5% | 51.6% | accepted |
| Bern | 55.3% | 47.8% | accepted |
| Fribourg | 49.2% | 46.1% | rejected |
| Basel-Stadt | 47.1% | 48.4% | rejected |
| Valais | 39.7% | 46.4% | rejected |
| Jura | 38.8% | 42.4% | rejected |
| Neuchâtel | 38.4% | 39.6% | rejected |
| Vaud | 36.2% | 45.3% | rejected |
| Geneva | 33.9% | 41.7% | rejected |
Communes with the highest and lowest yes share
Communes with at least 1,000 registered voters. The results of all 2,105 communes are in the JSON file below.
Highest yes share
| Commune | Yes | Turnout |
|---|---|---|
| Roggwil (TG) TG | 83.5% | 58.1% |
| Eichberg SG | 83.2% | 57.0% |
| Knutwil LU | 82.3% | 55.7% |
| Diepoldsau SG | 82.2% | 51.9% |
| Andwil (SG) SG | 82.2% | 59.3% |
| Oberriet (SG) SG | 82.1% | 55.0% |
| Quarten SG | 82.0% | 52.8% |
| Walzenhausen AR | 81.6% | 53.8% |
| Eich LU | 81.4% | 62.4% |
| Lengwil TG | 81.4% | 53.4% |
Lowest yes share
| Commune | Yes | Turnout |
|---|---|---|
| Les Breuleux JU | 22.3% | 45.7% |
| Lausanne VD | 22.7% | 40.0% |
| Evolène VS | 23.1% | 55.3% |
| Vevey VD | 23.5% | 39.3% |
| Chavannes-près-Renens VD | 24.6% | 30.7% |
| Saignelégier JU | 25.9% | 45.4% |
| Avully GE | 26.4% | 44.8% |
| Carouge (GE) GE | 27.5% | 42.8% |
| Genève GE | 27.9% | 42.7% |
| Orsières VS | 28.0% | 56.4% |
What changes for homeowners from 2029
- No more imputed rental value on owner-occupied homes.
- The deduction for maintenance costs ends at federal, cantonal and communal level; it stays for property that is let or leased.
- Debt interest is only deductible in proportion to let or leased property relative to total assets.
- First-time buyer deduction for debt interest: at most CHF 10,000 for married couples and CHF 5,000 for single people in the first year, reduced by ten percent of the maximum each year, for ten years.
- Deductions for energy saving and environmental protection end for the direct federal tax; the cantons may keep them for a limited time.
- The cantons may introduce a property tax on second homes mainly used by their owners.
This is how the federal administration describes it. How your canton implements the reform and whether it taxes second homes will follow on this page as soon as the cantons decide.
FTA worked examples for the debt interest deduction from 2029
The examples come from the FTA fact sheet. Interest at 2% in each case; the deduction depends on the share of let property in total assets.
| Situation (amounts in CHF) | Debt interest | Deductible |
|---|---|---|
| Own home 800,000, bank account 200,000, debt 500,000 | 10,000 | 0 |
| Let property 800,000, bank account 200,000, debt 500,000 (share 80%) | 10,000 | 8,000 |
| Own home 800,000, owner-used holiday flat 300,000, let flat 800,000, bank account 200,000, debt 500,000 (share 38.1%) | 10,000 | 3,810 |
| As example 1, married couple in the first year after a first purchase: first-time buyer deduction | 10,000 | 10,000 |
First-time buyer deduction year by year
| Year after purchase | Married couples, at most | Others, at most |
|---|---|---|
| Year 1 | 10,000 | 5,000 |
| Year 2 | 9,000 | 4,500 |
| Year 3 | 8,000 | 4,000 |
| Year 4 | 7,000 | 3,500 |
| Year 5 | 6,000 | 3,000 |
| Year 6 | 5,000 | 2,500 |
| Year 7 | 4,000 | 2,000 |
| Year 8 | 3,000 | 1,500 |
| Year 9 | 2,000 | 1,000 |
| Year 10 | 1,000 | 500 |
Tax on second homes: status in the cantons
Each canton decides for itself whether to tax second homes. As of 11 October 2026, from official cantonal sources only; checked weekly.
| Canton | Second homes | Implementing the reform |
|---|---|---|
| Aargau | no official information yet | consultation closed 2 April 2026 Consultation on the tax-law amendment ran from 2 April to 26 June 2026; the bill to the Grand Council has not been published yet. Source |
| Appenzell Inner Rhodes | no official information yet | no official information yet |
| Appenzell Outer Rhodes | no official information yet | no official information yet |
| Bern | proposed 13 November 2025 The government wants to allow municipalities to introduce an additional property tax on predominantly owner-occupied second homes; requires a constitutional amendment (mandatory popular vote) and a tax-law change; no rate set. Source | no official information yet |
| Basel-Landschaft | no official information yet | no official information yet |
| Basel-Stadt | no official information yet | no official information yet |
| Fribourg | no official information yet | no official information yet |
| Geneva | no official information yet | no official information yet |
| Glarus | proposed 1 October 2026 The government asks the Landrat to adopt a motion allowing municipalities to introduce a property tax on second homes from 2029. Source | no official information yet |
| Grisons | in consultation 27 August 2026 Consultation on a special property tax on predominantly owner-occupied second homes at a proposed cantonal rate of 1.5 per mille of the wealth-tax value; municipalities and churches may also levy it; requires a constitutional amendment subject to a mandatory popular vote. Source | in consultation 27 August 2026 Consultation on implementing the system change runs 27 August to 27 November 2026; target entry into force 1 January 2029. Source |
| Jura | motion in parliament 29 October 2025 A parliamentary motion (No. 1548 of 29 October 2025) asks for a cantonal property tax on second homes; its debate was deferred in March 2026. Source | no official information yet |
| Lucerne | no official information yet | no official information yet |
| Neuchâtel | no official information yet | no official information yet |
| Nidwalden | not introduced 18 June 2026 The government decided not to introduce an object tax on second homes (cost and yield would not match). Source | no official information yet |
| Obwalden | no official information yet | no official information yet |
| St. Gallen | no official information yet | no official information yet |
| Schaffhausen | no official information yet | no official information yet |
| Solothurn | no official information yet | no official information yet |
| Schwyz | no official information yet | no official information yet |
| Thurgau | no official information yet | no official information yet |
| Ticino | proposed 30 September 2026 The Council of State’s 2027 budget message plans a property tax on second homes; the financial plan assumes at least CHF 17 million of revenue against a gross loss of CHF 55 million from 2029. Source | no official information yet |
| Uri | under review 11 March 2026 The government will examine a special property tax on predominantly owner-occupied second homes (to be levied by municipalities); no decision yet. Source | no official information yet |
| Vaud | no official information yet | no official information yet |
| Valais | under review The Council of State is examining the constitutionally provided compensation (second-home tax); no draft published. Source | no official information yet |
| Zug | no official information yet | no official information yet |
| Zurich | no official information yet | no official information yet |
How the imputed rental value is set until the end of 2028
Until the abolition, current law applies. For the direct federal tax, FTA guidelines say the imputed rental value may not be below 70% of the market value. For cantonal and communal taxes, the cantons set it differently:
| Canton | How it is set or reduced | Hardship rule |
|---|---|---|
| Aargau | 60% of the market rent | |
| Appenzell Inner Rhodes | reduction of 30% for the home permanently occupied at the place of residence | |
| Appenzell Outer Rhodes | reduction of 20% for the home permanently occupied at the place of residence | |
| Bern | 60% of the market rent | |
| Basel-Landschaft | 60% of the market rent | |
| Basel-Stadt | no special reduction in the FTA overview | |
| Fribourg | no special reduction in the FTA overview | |
| Geneva | reduction of 4% per year of ownership, at most 40%, second homes included | yes |
| Glarus | reduction of 40% for the home permanently occupied at the place of residence | |
| Grisons | reduction of 30% for the home permanently occupied at the place of residence | yes |
| Jura | no special reduction in the FTA overview | |
| Lucerne | 70% of the market rent | yes |
| Neuchâtel | 70% of the market rent | |
| Nidwalden | reduction of 30% for the home permanently occupied at the place of residence | |
| Obwalden | 70% of the market rent | yes |
| St. Gallen | reduction of 30% for the home permanently occupied at the place of residence | yes |
| Schaffhausen | between 60 and 70% of the market value | yes |
| Solothurn | between 60 and 90% of the market value | |
| Schwyz | 65% of the market value | |
| Thurgau | reduction of 40% for the home permanently occupied at the place of residence | |
| Ticino | between 60 and 70% of the market value | |
| Uri | reduction of 25%, at most CHF 7,500 for the home permanently occupied at the place of residence | |
| Vaud | 65% of the value from the cantonal rent statistics | yes |
| Valais | between 60 and 70% of the market value | |
| Zug | reduction of 40% for the home permanently occupied at the place of residence | |
| Zurich | market value by comparison, reduced by 30 to 40% | yes |
Hardship rule: the value is reduced when it is high relative to income (details in the source). Zug also grants tenants a deduction of 30% of the rent, at most CHF 10,000. FTA (PDF)
History of the imputed rental value
- 9 December 1940The Federal Council decree on the national defence tax already treats the imputed rental value as income.
- 14 December 1990The Tax Harmonisation Act and the Direct Federal Tax Act anchor the taxation of owner occupation for the federal level and every canton.
- since 1999Since 1999 the imputed rental value has been the subject of a federal vote three times, each time without the necessary majority.
- 23 September 2012Most recently, voters and cantons rejected the popular initiative «Safe housing in old age»: 52.6% no, 13.5 cantons against.
- 2 February 2017A new attempt: the Council of States’ Economic Affairs and Taxation Committee launches initiative 17.400, which leads to abolition in 2029.
Frequently asked questions
When is the imputed rental value abolished?
On 1 January 2029. The Federal Council decided this on 1 April 2026. Until the end of 2028 the current system applies.
What did Swiss voters decide on 28 September 2025?
The federal decree on cantonal property taxes on second homes. It was accepted with 57.7% yes. The act abolishing the imputed rental value is linked to it and therefore comes into force as well.
Can I still deduct mortgage interest after 2029?
Only in proportion to let or leased property relative to your assets. First-time buyers who live in their home receive a first-time buyer deduction that decreases over ten years.
What about second homes and holiday homes?
The imputed rental value ends there too. In return the cantons may levy a special property tax on second homes mainly used by their owners.
Sources: Federal Council (press release of 1 April 2026), Federal Department of Finance, Federal Tax Administration (fact sheet on debt interest, parliamentary business), Federal Chancellery; results: FSO, VoteInfo (open data). efd.admin.ch · bk.admin.ch · VoteInfo OGD · JSON
Information only, not tax advice. The law and the decisions of the tax authorities are binding.