What taxes and payments after real estate purchase are?

The land tax or the tax to the real estate (taxe fonciere) is calculated on the basis of a total area of the house or apartment, the size of a ground (if exists), area of the real estate. The municipal tax (taxe d ` habitation) concerns the direct user of the real estate - the owner or its tenant. Usually the sum of the municipal tax is equal to the sum of the land tax. Wealth tax (Impôt sur la fortune). In France the citizens having the property/wealth for the sum over 1 300 000 Euros should pay a special tax on it. This tax is paid annually and makes from 0,70 % to 1,50 % from a real estate cost and depends on price. In case of real estate purchase on credit, it is not taxed, while on it the bank debts are registered. The tax starts to operate only since the moment when the paid sum will reach 1 300 000 euros. The inheritance tax (droit de succession) Tax on the transfer of real estate in the inheritance or gift is not easy to calculate. It all depends on the situation, and can range from 5 to 40% of the tax base. Tax is calculated on a progressive scale of the market price value of property at the time of entry into the inheritance. Since 2007, the spouses are exempt from inheritance tax. If the property has bank debt, tax will be deducted from the amount of paid credit. The profit tax (impot sur la plus value) At the further resale of the real estate the seller should pay the tax from net profit which he has received from the transaction. The given tax extends also on all foreigners, not being tax residents of France. If you are interested in more information on the French tax Vendome Estate will recommend you specialized lawyers.

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