New Obligation for Property Owners in France to Declare their Real Estate Assets: What you need to do
Category: Property > French Property | 25th Apr, 2023
Have you heard about the new obligation in French law for property owners to declare their real estate assets? If you own a residential property, whether it's in your name or through a company, you need to take action.
Here's what you need to do: log into your personal space on the impôts.gouv.fr website and click on the "gérer mes biens immobiliers" tab. For each property, you must specify whether it's your primary residence, a vacation home, a rental property, or a property loaned to a family member. If you're renting out the property, you'll need to provide additional information such as the tenant's name, address, and date of birth.
Starting in 2025, you'll also need to declare the amount of rent you're charging (this is optional for now). It's important to note that this new tax declaration is mandatory, and you must complete it before June 30th of this year. UPDATE : In a press release dated June 23rd, 2023, the government announced that it is postponing the deadline to July 31st, 2023. Failure to do so could result in a fine of €150 per missing declaration. Moving forward, it will only be necessary to update the information in case of any changes.
One of the main reasons for this new obligation is to make it easier for the government to calculate the taxe d'habitation, or residence tax, on second homes.
Another goal of this new declaration is to help the government identify and tax vacant properties more efficiently. The law targets non-furnished properties that have been unoccupied for over a year. By having property owners declare their real estate assets, the authorities can more easily track the number of vacant properties in particular in potential areas of housing shortages.
While it may seem like an extra task to add to your to-do list, this new obligation is meant to promote transparency and fairness in the real estate market. So, make sure to get it done before the deadline and avoid any unnecessary fines.
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