That’s news that probably won’t please the owner. In this month of November, French people who pre-paid their monthly property tax were again deducted by the tax administration, according to a report by the specialized website MoneyVox. Usually, property tax is collected in ten monthly installments, from January to October. This year, however, this local tax has seen a very sharp increase in many municipalities, thanks to that abolition of housing tax required by the government.
The amount of this tax paid by owners has grown exponentially, reaching an average increase of 7.1%, an unprecedented level. In some municipalities, property tax has even been introduced an increase of more than 10%. This situation caused a wave of dissatisfaction, which was expressed in particular by the Association of Mayors of France.
Exemption from property tax: conditions, reliefs and ceiling
For owners who chose to pay property tax monthly, a deduction was made every month from January to October based on the amount of tax from the previous year. However, with this year’s tax increase, regularization is now necessary, which takes the form of one or more monthly installments.
Up to two additional monthly installments
For example, if your property tax was €1,000 last year and increased by 7% this year, you would be charged ten monthly payments of €100 from January to October and another monthly payment of €70 in November to compensate for the increase. . Owners whose tax has increased by more than 10% will be subject. regularization in two selections, in November and December, in order to distribute the amount owed. Those who chose to pay the property tax in a lump sum are not affected by this regularization, as the increase was calculated at the time of payment.
The General Directorate of Public Finances has already informed the affected taxpayers about the development of the repayment schedule when issuing the assessment for real estate tax for the year 2023 sent at the end of the summer. So there is no real surprise on this topic. It is expected that unless another significant increase is announced in 2024, the situation should return to normal in January 2025with monthly installments adjusted according to the correct amount of tax.
Property tax: here is the total rate of local taxes in your city
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