Sarko drops the proposed new property tax on secondary homes

The old town of Richelieu attracts many purchasers of houses from abroad, as the pretty cité idéale does not offer many possibilities of comfortable employment to local sons and daughters, far as it is from the cities of Tours or Châtellerault with their job opportunities.  Houses are quite cheap as a result.

Without these foreign buyers, who spend restoration money on the classic properties from wealth earned elsewhere, many of the houses located within the city's walls would be left to rot, as locals do not have either the funds or the inclination to take them on.

The new tax was to have been 20% of the valeur locative cadastral - notional rental value - of the houses per annum.  As many of these properties are large, and the new property tax was to be based on these large areas, while little houses would only have attracted a smallish sum in addition to the impôts habitation et foncière already paid by second home owners, the large houses would have attracted new tax requests in the order of 2,000€ per annum.  As existing local taxes are already quite steep on these large houses, it would have discouraged buyers and caused a reduction of prices and values.

So many second home owners can relax (for a while!)....

CLICK HERE

for details of the policy change
and HERE
and Here

Also the Sarko administration has improved the position of property owners when the

Grim Reaper
 comes to call
in the land of

Napoléon Bonaparte

CLICK HERE

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