Switzerland Mulls $2.1 Billion Tax Gift to Home Owning Minority

The country with the lowest home ownership in Europe is about to decide whether to hand the lucky few with property a 1.7 billion-franc ($2.1 billion) tax gift.

Ahead of a national ballot next week, polls show Switzerland’s voters are split about 50-50 on a proposal to overhaul a longstanding system of how homes are taxed. Approval would mean those who have property are better off. It could also fuel additional demand and push up already elevated home prices.

If the vote passes, homeowners’ property tax burden could drop by as much as 22%, depending on the taxpayer’s ...