Parisian homeowner ? Does the 2024 French property declaration concern you?

The French tax authorities just announced that this declaration will once again be required in 2024 and going forward. We'll explain what this is and how to do it. 

If you were a property owner in France last year, you might have heard about the new tax law requiring French home owners to make a declaration indicating the use of the property – primary residence or holiday or rental home. This is also referred to as the Declaration d’Occupation. 

As you can guess, the underlying motive was to change the way they assess property taxes. Second homes saw an increase in property tax. The good news is that even with this increase, property tax in France is generally very low compared to other countries, especially the US.

Fortunately, if you have already submitted this declaration last year, you do not need to do it again if your usage of the property has not changed.

If you have changed your usage status – you do need to complete the form again.

• If you are a French property owner and this is the first time you are hearing of this law, it's very important to fulfill this obligation in 2024. 

• For new property owners in 2024, you must create a tax account and do this declaration.

• Going forward, any changes to the "occupation" of the property as of January 1st each year, whether it be a primary residence or a second home, necessitate a declaration by June 30th of the same year.

Some French home owners faced challenges accessing the form online when this first came out last year. The French government has addressed that by promising to offer a paper form later this year. We highly suggest getting set up with a French tax account in any case as along with doing this declaration, you can set up a direct debit payment for your French taxe foncière (property tax) and taxe d'habitation (occupancy tax) so you never miss a tax payment by accident. 

How do I make this declaration?

French Entrée has written a helpful article here : https://www.frenchentree.com/living-in-france/french-tax/frances-new-2023-tax-declaration-doccupation-for-french-homeowners-step-by-step/

If the idea of setting up your online French tax account seems daunting, don't worry, we can put you in touch with a trusted partner who can walk you through it. At Paris Buyer, we understand the intricacies of the Parisian real estate market, and are here to guide you through every step of the way.