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French government slaps new council tax on foreign-owned second homes

Posted on 17 May 2011

A French cabinet ruling last week has approved a new council tax that will be imposed on property belonging to non-residents. It will affect 360,000 properties across the country, many of which are holiday homes owned by British and Dutch foreigners.
The tax aims to take 20 per cent of a property’s rental value, the rentable cost of a building if it’s on the market. And it is designed to cut France’s gaping budget deficit by about 176 million euros per year……………………………………….Full Article: Source


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