Wealth Tax on Main Residence?

[freddy]

I understand from what I've read that the value of your main home is included in wealth tax calculations. Does anyone know how this works in practice? Do they assume that your house is worth what you originally paid for it (perhaps adjusted for inflation), or is there some form of regular assessment? Thanks

[martinetchris]

Hi

The issue of wealth tax is covered extensively in Pannell Kerr Forster (Guernsey)'s book "Taxation in France", which only costs about 25 and covers all aspects of French taxation from the perspecive of ex-pats :

http://www.pkfguernsey.com/

From my quick scan it appears to say that the value (which I would assume to mean CURRENT value) of main residence is included, but less an abatement of up to 20% to "reflect the fact that it is occupied by a 'sitting tenant'"

Best wishes

Chris and Martin