If you haven’t already received your taxe foncière bill, those on the Côte d’AZur should be prepared for a hike on last year’s amount of 7.1%.  

Since last Wednesday, notices have been arriving in post boxes, inboxes and on the impots.gouv.fr website. They concern the annual taxe foncière, which is increasing across France and could cause a serious shock to the pocketbook.  

WHAT IS THIS TAX? 

The tax foncière is a property ownership tax that is collected by local authorities.  

It is calculated by multiplying the cadastral rental value by the tax rate. This is reassessed each year and increases are typically within the 3% range. This year, however, the increase is significantly more, with a nationally agreed rise of 7.1% and various increases at local level.  

SHOCKING FIGURES FOR SOME 

Many homeowners in the Alpes-Maritimes and the Var could be said to be getting off lightly, as the taxes in most municipalities in these two departments are pinned to the new national rise of 7.1%. For example, the taxe foncière in Nice, Cannes, Antibes and Grasse will only rise by 7.1%, with no increase added by local authorities.  

There are those living in certain Riviera towns, however, who will be facing even bigger bills. 

According to a list published by FranceInfo and featuring the largest towns and cities with populations over 40,000 in France, homeowners in Le Cannet to the north of Cannes will be facing a 13.6% rise. 

Elsewhere in France, and perhaps unsurprisingly, Paris is being hardest hit, with a 51.9% hike at the local level, meaning an overall rise of 62.7%. Property owners in Meudon in the Hauts-de-Seine will note a 44.7% increase, and Grenoble residents in Isère a 33.2% rise.  

Make sure you’re never left out of the conversation. 

Sign up for the Monaco Life newsletter, and follow us on Facebook, Twitter, Instagram and LinkedIn.   

Photo source: Paolo Bend, Unsplash