Property owners in France wishing to do home improvements should be aware of new legislation. This legislation makes it mandatory to declare any building modifications for property and rental value tax purposes. Before this legislative reform any changes that resulted in a less than 10% increase in rental value were excluded from such a disclosure requirement. Now all improvements have to be disclosed. This not only includes increasing the living space but also things like interior remodeling and installing central heating. Some improvements do not require permission but failure to disclose them could still result in a fine. The declaration should be made within 90 days of making the modifications if a property owner wants to apply for a two-year exemption from the tax increase.
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Changes to the taxation for home improvements
Rory Ramsden is a French property finder and buyer's agent working for high net worth private clients wishing to buy a chateau, manor or vineyard in the south west of France. He has lived in France for 8 years after spending time travelling the world on business.
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