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Please note this 60% tax is 60% of what one could rent the property for, not 60% of the value. Yearly rents are maybe 5-10% of the value, so a 3% to 6% tax as t
by nickjarboe 10y ago
Please note this 60% tax is 60% of what one could rent the property for, not 60% of the value. Yearly rents are maybe 5-10% of the value, so a 3% to 6% tax as the word is normally used. Still something, but not nearly extreme as the headline.
- hbbio 10y agoNo, this is 60% of the property tax, not the rental value. It's much less than rental value, and although quite interesting for the city of Paris (which should net about $30M / year) it is nowhere close 60% of the rental value of those flats.
- djrogers 10y agoNo, the article clearly states it is 60% of rent: "Starting in 2015 the city elected to tax vacant homes the equivalent of 20% of the fair market value of rent. On January 30 this year, they decided to triple that amount to 60%. "
- Timshel 10y agoThe article is crap, the change is to the property tax (taxe d'habitation http://www.lemonde.fr/argent/article/2017/01/25/a-paris-la-surtaxe-sur-les-residences-secondaires-va-passer-de-20-a-60_5068843_1657007.html http://www.lemonde.fr/argent/article/2017/01/25/a-paris-la-s...). The property tax is really low in Paris, for a 200ke flat you'll pay less than 200e a year, so while it will bring more tax it will change nothing to the problem.