I'm Belgium this rental tax is the same. You're taxed on the hypothetical rent income.

But... this is based on values of either in the 90s, or 70s.

I remember because the hypothetical income (on a yearly basis) for our 2016 new build was €1,200. Remember, income, not profit.

You couldn't rent a place within 5 miles that was below €1,000 per month.