Which assets are liable?
See below
Liable property assets are those owned, directly or indirectly, as of January 1, 2026, including:
Land (eg. agricultural or building as well as woods/forests)
- Buildings classed as historic monuments
Buildings under construction
Finished buildings, including a main home after a 30% deduction, for private or business use, and whether used by yourself or rented out. Property that you rent from someone else is not subject to IFI with the exception of property you rent under a crédit-bail agreement or a contrat de location-accession (with a right to buy for the tenant).
The declarable value on the latter is after deduction of rent remaining to be paid and the amount of the option to buy.
Garages, parking spaces and cellars
The value of certain legal rights linked to property. This includes usufruit, which is the right to use a property owned by someone else. The usufruitier can live in the property, rent it out, or even sell their right to use it. However, if you only hold nue-propriété (bare ownership), meaning you own the property but cannot use or rent it, its value is not taxable
Properties from which you benefit from the usufruit should be declared at their full usufruit value for wealth tax, with certain exceptions where the law provides for a sharing out of the full value between the owners of usufruit and nue-propriété.
This works according to a sliding scale based on the age of the owner of the usufruit, for example, in the case of the usufruit right of a surviving spouse to use the family home.
A simulator to calculate this is available on service-public.gouv.fr.
A droit d'usage et d'habitation (personal right to use a property, more limited than usufruit) has a declarable value.
Shares in property-holding companies such as SCIs, SCPIs (Société Civile de Placement Immobilier) and OPCIs (Organisme de Placement Collectif en Immobilier).
Property you have placed in a trust, unless the trust is seen as irrevocable and was made to benefit a charity.
Property bought jointly under a tontine, which is declarable for each partner pro rata to the sums each invested.
A tenant's rights under a bail à construction (a long-term lease where he/she agrees to build on the land).
Buildings, or parts of them owned via shares in property-holding companies.
Part of the value on January 1, 2026 of assurance vie (AV) policies that include an investment in taxable property (in proportion to the latter) if the policy is rachetable (a type you can withdraw money from).
It is relatively uncommon for AV policies to invest in property. Also, the exemptions listed below for stock exchange listed property investment companies (SIICs) and OPCs also apply where these are held in an assurance vie.
If you own more than 10% of the capital of a company or organisation (other than those whose purpose is holding property) that owns property in France, you may need to declare your shares in proportion to the value of the property.
This does not apply if the property is used for the company's business activity (as long as this is commercial, industrial, artisanal, agricultural or a liberal profession), or that of another company in the same group.
The value is determined by comparing the market value of the real estate (apart from that used for operational business activity) to the market value of all the net assets.
You apply this ratio to the value of your shares. Account has to be taken of property owned indirectly by the firm via shareholdings in other firms and organisations. The firm should supply information on request.
Those holding less than 10% of capital or voting rights in a company are exempt from these rules, so most people with stock market investments should not be affected.
For SIICs, there is an exemption for those with less than 5% of the capital/voting rights.
Shares in investment funds such as OPCs are exempt if you own less than 10% of the rights in these structures, and the fund holds less than 20% of its assets in real estate or rights eligible for IFI.