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Yep! One too many zeros. For the vast majority of the population, it's low enough such that you need not even think about it. For successful business owners it's a different story.
I would expect this to affect where rich people lived, especially foreigners with no ties to any particular canton. Is there any correlation between the wealth tax rate in a canton and how many rich people live there?
Correct, and this is most obvious with cantons like Zug competing for wealthy foreigners with lower taxes. A common strategy is to officially be a resident of a low-tax canton, but work in a business center like Zurich. The property prices (even in rural Zug) reflect that.
This means the de facto average wealth tax rate in Switzerland is lower than you'd get by doing the naive calculation. Is there an estimate of the overall rate? It should be easy to calculate.
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