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Real estate transfer tax allowance of 100,000 euros promising
Real estate transfer tax allowance of 100,000 euros promising

Video: Real estate transfer tax allowance of 100,000 euros promising

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Video: What Is a Transfer Tax? 2023, February
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A real estate transfer tax allowance of EUR 100, 000 promises the greatest additional potential in structurally weaker regions, but less effects in high-price regions, as LBS Research has calculated. The effect would be similar to child benefit.

With the introduction of the construction child benefit, the grand coalition has already implemented an important project to strengthen home ownership. Other points from the coalition agreement in the housing policy field, which also aim to relieve builders and buyers, are still open. This includes, among other things, the project "to examine a tax-exempt amount on real estate transfer tax for the first purchase of residential property". LBS Research, in cooperation with the real estate research institute empirica, looked into the question of how an exemption would affect given tax rates and the respective property price levels in the regions. The result: Even with a relatively low allowance of EUR 100, 000, the potential for young first-time households would increase by a good 18, 000 to 309, 000 households (plus 6 percent). Regionally, however, a tax-free allowance would have a very different impact - similar to child benefit.

Lower capital requirements as an incentive

As LBS Research reports, the scientists first determined the “natural” potential for first-time buyers for the model calculation. By definition, they include tenant households between the ages of 30 and 44 who have both sufficient equity capital (at least 25 percent of the purchase price plus incidental costs) and sufficient income (income burden from interest and repayment a maximum of 35 percent) to make a property customary in the region (region-specific weighting of condominium and home prices). 291, 000 households in Germany currently meet these requirements. If it is now assumed that an amount of EUR 100, 000 is exempt from the real estate transfer tax, this results in an additional 18, 400 households, which would then be able to purchase a house or apartment due to the then lower capital requirements.

Naturally, the relief from a tax-free allowance is higher where the highest real estate transfer tax rates prevail. In states with high tax rates between 6 and 6.5 percent, the additional potential increases by at least 7 percent, in countries with “low” tax rates of 3.5 percent only by 4 percent. LBS Research points out that the impact of an exemption is also significantly influenced by the regional price level. Overall, it should be noted that a tax exemption amount of EUR 100, 000 would have a disproportionate impact on regions with low real estate prices, whereas in economically strong regions with high purchase prices such a tax exemption would be less important (see following graphic).

Zusatzpotenziale durch Grunderwerbsteuerfreibetrag
Zusatzpotenziale durch Grunderwerbsteuerfreibetrag

Photo: LBS Research / empirica

In the model calculations, the scientists "played through" other variants, including a "high" allowance of 200, 000 euros. "High" because in low-price regions, such an allowance would in many cases be equivalent to the abolition of the real estate transfer tax. In this scenario, the additional potential for first-time buyers would almost double to 34, 000 households - with similar, but not quite as pronounced, distribution effects as in the “allowance of EUR 100, 000” option.

Grunderwerbsteuerfreibetrag Deutschlandkarte
Grunderwerbsteuerfreibetrag Deutschlandkarte

The map of Germany shows where a tax-free allowance would be particularly effective.

Photo: LBS Research / empirica

Due to the heterogeneous real estate market in Germany with shrinking regions on the one hand and extremely expensive regions on the other hand, uniform allowances for real estate transfer tax always have a distorting effect. Analogous to the regional distribution effects in the case of building child benefit, they favor regions outside of the no longer affordable big cities and conurbations. If this is politically wanted - e.g. For example, as a stopping factor to reduce emigration to the cities - according to the scientists, allowances for real estate transfer tax, as they should be checked according to the coalition agreement, can be a sensible measure. To increase the relief effect in growth regions, graduated allowances would have to be considered, but this would immediately increase the complexity.

The return to a nationwide uniform taxation of land acquisition is therefore more appropriate. A real estate transfer tax rate of 3 percent, for example, would also generate an additional potential of 18, 000 households. This potential would be relatively evenly distributed across the different types of regions, districts and cities. But there are also two outliers in this variant: The federal states of Bavaria and Saxony could hardly expect additional potential due to their relatively low real estate transfer tax rate of 3.5 percent.

Real estate transfer taxes are a high entry hurdle to home ownership

The scientists believe that lowering the high incidental acquisition costs by relieving the real estate transfer tax is more necessary than ever, since the entry hurdle to home ownership has become ever higher due to high real estate transfer tax. This was not only due to the increase in real estate transfer tax increases of up to 86 percent in recent years, from 3.5 to 6.5 percent at the time. B. in Brandenburg, North Rhine-Westphalia, Saarland, Schleswig-Holstein and Thuringia, but also the rapidly increasing property prices. The equity capital required for the acquisition did not grow at the same pace. The result, according to the experts at LBS Research, is that thousands of private emerging households who have given up consumption for many years in favor of high savings have to postpone their home purchase by many years or can no longer afford it due to the further increase in land and building prices. As a result, the real estate transfer tax not only constitutes an obstacle to the wealth accumulation of less wealthy households, but also has a negative impact on new construction.

Gallery: Potential in the individual federal states

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15 Show all Gallery: Potential in the individual federal states

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