Property tax, council tax on second homes, rental income taxation, capital gains on resale, transfer duties: taxation affects every stage in a property’s life, and its rules often change, particularly with each Finance Act. This section summarises the changes affecting owners, sellers and landlords, based on the official texts and websites cited at the end of the article. On the Alabaster Coast, where second homes are numerous, these rules matter in every project. To establish the value of a property for an inheritance, gift or division, discover our property valuation service.
Social security contributions on property income apply to rent from an unfurnished property and, under specific rules, to individuals’ property capital gains. The rate depends on the type of income and the social security scheme to which you are affiliated.
On the Alabaster Coast, council tax on a second home is due on a furnished property available to you on 1 January, with a possible surcharge in a high-demand area, such as Veules-les-Roses, if the council has adopted it. In the event of an error, you must file a claim.
Property tax is payable by the owner or usufructuary of a built property on 1 January, whether they occupy it or let it, and its amount depends on the cadastral rental value, locally voted rates and any exemptions or reductions.
Your council’s property tax rate can be found on the public local taxation website, which displays the rates voted by the council and the inter-municipal body. To anticipate the amount, bear in mind that this is an overall rate, not just the council rate.
Before selling your property on the Alabaster Coast, it is better to know how the capital gain on a second home is calculated, which costs can reduce it and in which cases an exemption or allowance can lower the tax bill.