Thursday, November 27, 2014

Local taxes you have to pay as an owner

According to french law,  two local taxes applied to real estate in France : 
The French Embassy in Washington's internet site highlights this topic :

"Residence tax: (taxe d’habitation) : this tax is due by any person who uses a furnished property. If the property is inhabited or if the tenant did not pay the tax, the owner is liable for its payment. This tax is calculated by applying the rate set by local jurisdictions and based on the official Land Registry rental value. The residence tax is assessed on a yearly basis. The tax is due on January 1st of each year. No rebate is granted if the property is sold or if the occupant moves out during the year. Non-residents cannot benefit from any reduction or relief.
Real estate tax: (taxe foncière): This tax on lands and buildings is assessed on a yearly basis. Is is due by any person who own a property on January 1st of each relevant year. New constructions benefit from a two year temporary exemption. The real estate tax is also based on the official Land Registry rental value."

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