If your property is located in the Canton of Geneva, you’re likely aware that it is subject to the Additional Property Tax (Impôt Immobilier Complémentaire, also referred to as land tax). For individuals, the rate is 1‰ (per mille) of the property’s tax value. For legal entities, the rate is 2‰.
This tax is owed by the person listed as the owner or usufructuary in the Land Registry (Registre foncier) as of December 31st of the fiscal year. Therefore, regardless of the actual date of the ownership transfer, it is always the buyer who ends up paying the tax for the entire year.
To ensure fairness, however, the buyer and seller can agree to prorate the tax based on the number of days each party owned the property during the year of the sale.
Excerpt from our guide: Selling Your Home in 42 Questions