Summary
Property tax is a regional tax on real estate located in the Walloon region. Property tax is calculated based on cadastral income, as established by the federal administration. You will receive a payment notice (notice of tax assessment) for withholding tax during the second half of the year. The amount of property tax owed to the Walloon region is 1.25% of the indexed cadastral income. The provinces and municipalities may establish fees in addition to the property tax.
In detail
Property tax is owed by the owner, holder, leaseholder, superficiary or usufructuary of a taxable property by 1 January of the tax period.
Property tax exemptions pertain to: buildings that are used for non-profit activities (places of worship, education, hospitals, etc.); buildings that have been allocated by foreign states for their diplomatic or consular missions or non-profit cultural institutions (subject to reciprocity); real estate that is deemed national estates; equipment and tools with a cadastral income less than €795; equipment and tools that are acquired or incorporated as new in the territory of the Walloon region, starting from 1 January 2006; nature or forest reserves; Natura 2000 sites; certain organisations that are exempt under special laws or decrees; companies that are in receipt of an investment allowance from the Walloon region (temporary exemption). In principal, those who are entitled to an exemption are not sent a payment notice. Property-tax deductions can also be requested for: modest homes for disabled dependants. If a property is unoccupied, or real estate, equipment or tools are non-productive or destroyed, a proportional property-tax deduction may be requested.