In 2023, property owners will pay twice as much for the Taxe foncière. This announcement was made by the mayor of Paris, Anne Hidalgo.

«There was no choice but to increase the property tax. Climate change, the energy crisis and inflation led to this,» the mayor wrote on her Twitter.

Note. Taxe foncière is a tax that all property owners in France pay every year.

How exactly will the property tax rate change? It will increase from 13.5% to 20.5%. That is, if now the owner of an object of 50 square meters, for example, pays a property tax of €438, then in 2023 it will be €665.

Who will be exempt? Homeowners who have invested in property renovations between 2020 and 2026; people in financial hardship and taxpayers who are over 75 years old (although this will depend on their income level).

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