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French Property Owners Complain Of Mounting Taxes

by Ulrika Lomas, Tax-News.com, Brussels

17 October 2014


France's National Union of Property Owners (UNPI) has highlighted that municipal property taxes have increased on average by 21 percent over the last five years, describing the situation as "intolerable."

The Union contrasted the hike with inflation, which rose by just 5.9 percent during the same period. UNPI's President, Jean Perrin, explained that two factors were responsible: a 9.65 percent increase in the official rental value of properties, and higher property taxes set by locally elected officials.

In large cities, tax rose most significantly in Paris (by 48.5 percent), followed by Courbevoie (36.4 percent), Argenteuil (35.5 percent), Reims (34.5 percent), and Saint-Denis Seine-Saint-Denis (32.45 percent).

However, the UNPI also noted that fewer departments have decided to hike property taxes in 2014, with increases in 13 departments, compared with 36 in 2013.

TAGS: tax | property tax | real-estate | tax rates | France | Tax

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