If you are the happy owner of a second home in France, you are now being charged the same taxes as local residents have to pay. A contentious tax hike affecting foreign owners of second homes has been given the green light by France’s highest constitutional authority. The legislation was approved by the Constitutional Council last Thursday, despite strong claims by many in the property market that it is against EU laws. The law imposes an extra “social charge” of 15.5% on the existing capital gains tax related to the sale of second homes, meaning the original levy will rise from 19% to 34.5%. The same 15.5% “social charge” will be added to the tax of rental income, raising the rate owners have to pay from 20% to 35.5%. The levies will affect all non-residents who own a home in France, including French nationals who live abroad. So you can look at this from two ways; either you get angry by the French authorities that make your rich life less rich, or you take this as a sign from abova;-) You might be better of living in France as a resident. Or if you want to sell your house to the Russians, Chinese, Germans or Dutch, you contact Living at the Cote d’Azur. Jolanda Marinus and Ab Kuijer of Marinus Concierge Services are happy to help you. Call us at 0033659910425
Just another reason to live in France!