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For those subject to the ISF (solidarity tax on wealth), calculate the value of its property assets is usually a headache because many criteria more or less subjective, can affect the value of a home, such as sight or quality of the frame, for example.
In order to limit the risk of recovery, individuals should mail their declaration before June 15 may use a tool developed by the Ministry of Finance for them. Patrim the software freely available on the website impot.gouv.fr
Remember that this deadline applies to those whose taxable net wealth exceeds 2.57 million euros. Those whose taxable net worth is between 1.3 million and 2.57 million euros have more time since they must fulfill their declaration of ISF along their declaration of income tax.
Read also: ISF: the art of assessing its real estate
How Patrim? First, the user must register with the tax identification number. Then it must inform housing characteristics: its location, area, number of rooms, etc. It must also indicate the geographic scope of research and the period to be taken into account. To narrow the search, it has the opportunity to add additional information: period of construction of housing, floor, elevator, cellar, terrace, swimming pool, purchase price …
From these elements, the software provides a list of real estate transactions for goods with similar characteristics, performed more or less recently in the same geographical area. This is also the weak point of software: so few sales were made in the last months, the reliability of the estimate is affected
Note, Patrim commits. in any case the tax administration. But the software is valuable because it shows which elements from the IRS estimates the value of a property. “For a large valuation gap, distortions may be accepted, but must the taxpayer is able to justify,” recalls a spokesman Bercy. Beyond the ISF, knowing the estimated value of a home by the tax authorities may also prove useful in case of inheritance or gift.
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