I own a property in France. How are local taxes (Residence tax and real property tax) worked out?
Residence tax: this tax is due by any person who owns, rents or uses a furnished property. It is calculated by applying the rate set by local governments to the official Land Registry rental value. The residence tax is assessed on a yearly basis. The tax point is January 1st each year and the occupant at that time is liable for the tax. No rebate is granted if the property is sold or if the occupant moves out during the year. Non-residents cannot benefit from any base reduction or any relief. Real property tax: This tax concerns lands and buildings and is assessed on a yearly basis. It is addressed to the person who owned the property on January 1st of each relevant year. New constructions benefit from a two year temporary exemption. The real property tax is also based on the official Land Registry rental value.
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