New French tax on the way?
Reader's query about a new French tax.
I am on the verge of signing a compromis on a flat in the Riviera but although I have enough income from the UK some friends have worried me as they say that there is a new property tax on the way and that local taxes will rise. As my finances are quite finely balanced after the slump in the sterling-euro exchange rate I am worried that a new tax would be more than I can afford. Do you have any information? G.F.
Your friends are likely to be talking about the taxe spéciale d’équipement régional (TSER) included in the Projet de loi de finances 2017. Some government functions have been transferred to the new larger regions and, after negotiation with the Association des Régions de France, the TSER was intended to help fund these through increases in the Cotisation Foncière des Entreprises which is paid by businesses and the Taxe Foncière sur les Propriétés Bâties, paid by property owners. Some estimates have said the tax will add 0.2% to taxe foncière bills. Regional councils are not obliged to apply the tax and some have said they will not do so, including the Riviera’s Provence-Alpes-Côtes-d’Azur council.
Reader's query answered by Hugh MacDonald
If you have a money query send it to firstname.lastname@example.org We select questions for answer every edition
- The information here is of a general nature. You should not act or refrain from acting on it without taking professional advice on the specific facts of your case.
- No liability is accepted in respect of this article. It is intended only as a general guide. Nothing herein constitutes actual financial advice.
- The Connexion welcomes queries and publishes a selection with answers every edition. However, please note that we cannot enter into correspondence on money topics. Queries may be edited for length and style. Due to the sensitive nature of topics we do not publish full names or addresses on these pages.