Mixed News for Property Owners & Long Term Renters in Chamonix

The outcome was that we will see an increase on Taxe d'Habitation of from 14.86% to 15.31% and Tax Foncière from 15.60% to 16.07%, that's a 3% increase overall, which is set to come into effect this year. 

Something that property owners might not know is that you don't have to pay the Taxe d'Habitation if you're not using your property yourself renting out your property commercially, but you will pay CFE (Cotisation Foncière des Entreprises) instead. You shouldn't be paying both! 

And now some good news for owners or potential buyers from overseas. The rate of capitals gains tax (CGT) for non-EU owners has been brought in line, a drop from 33.3% to 19%. On top of this, the French government is currently charging social tax on CGT at a rate of 15.5%, which goes against European law and is being challenged in the courts.  If successful, which looks likely, this won't be payable by non-French tax payers.

And finally, the obligation for a non-French tax resident to appoint a "Fiscal Representative" when selling a property has now been scrapped in the vast majority of cases. This is basically a guarantee for the Tresor Public and can cost around 0.7% of the sale price, so a big saving on fees too.

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Thanks to Mountain Base in Chamonix for the information.