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Taxe Fortune?
 Poster: A snowHead
Poster: A snowHead

I am about to buy a Chalet, I have heard a few people mention this, but I can't seem to find much info.
Is this a seperate tax That I will have to pay on an annual basis?
If so how is it calculated?
Thanks
Max
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 Obviously A snowHead isn't a real person
Obviously A snowHead isn't a real person

Chattonmill wrote:
I am about to buy a Chalet, I have heard a few people mention this, but I can't seem to find much info.
Is this a seperate tax That I will have to pay on an annual basis?
If so how is it calculated?
Thanks
Max


Wealth tax as a % of your total assets minus some deductions. You need to be worth a certain amount before it applies. Someone else can probably give you more precise details.
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 Well, the person's real but it's just a made up name, see?
Well, the person's real but it's just a made up name, see?

scotia, thanks for that, would that be a % of my French asset base or my UK one as well?
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 You need to Login to know who's really who.
You need to Login to know who's really who.

A lot of Euro Western European Countries have Wealth Tax

Also Most European Countries require you to declare your Worldwide Income (inc Assets).
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 Anyway, snowHeads is much more fun if you do.
Anyway, snowHeads is much more fun if you do.

Chattonmill, http://www.frenchentree.com/fe-legal/DisplayArticle.asp?ID=2173 has some info, but I'm not too sure how correct or up to date it is.
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 You'll need to Register first of course.
You'll need to Register first of course.

Hells Bells, I think that clears it up, I will be UK resident, so if my property is not over 732000 Euros then I would pay nothing anyway, if the property goes over that I may be eligable for tax on my French assets only.
Thanks for that!
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 Then you can post your own questions or snow reports...
Then you can post your own questions or snow reports...

Chattonmill,

I think the property value is now higher than 732000 euros. This information on the impots.gouv.fr site gives a value of 790000 euros for 2010. I'm pretty sure it only applies to your French assets.
http://www.impots.gouv.fr/portal/dgi/public/particuliers.impot;jsessionid=G21A3CRRDLRXXQFIEMPSFFOAVARXAIV1?espId=1&pageId=part_isf&impot=ISF&sfid=50

Another useful bit of information about French taxation can be found on the Credit Agricole website http://www.credit-agricole.fr/espace-non-residents/living-in-france/taxation-in-france.html
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 After all it is free Go on u know u want to!
After all it is free Go on u know u want to!

Chattonmill, and I think, may not be right but think, that if you have a mortgage on the property then your asset value is reduced by that much for wealth tax purposes. Also believe that I heard that you have to take out the mortgage at the start, you can't do it a few years down the line. Well, you can take a mortgage but not use it to reduce you total asset value in France. But like all things take proper advice!
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 You'll get to see more forums and be part of the best ski club on the net.
You'll get to see more forums and be part of the best ski club on the net.

skichampcouk, Thanks for all that, it does confirm that as a non resident anything under 790 000 Euros is non taxable. That helps a lot!
Pamski, I will not be taking a mortgage and hopefully will not need to remortgage, but you never know!

So the upshot is that I will be putting an offer in today for a Chalet in Les Gets, here's hoping for a positive response!
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