Owens88 Posted September 25, 2005 Share Posted September 25, 2005 Hi We are considering the acquisition of another property within our co-prop. Its a bit of a wreck at the moment and uninhabitable I guess. Its also a lot lot smaller than ours.Once it is habitable what will be the effect on our taxes (hab and fonc) ? Will it be a sort of proportional increase (based on sq metrage or assessed rental value or something)? orWould it be a complete additional tax account, and is there a minimum below which these bills don't fall ?ThanksJohnp.s. we are not resident in France. Link to comment Share on other sites More sharing options...
Teamedup Posted September 25, 2005 Share Posted September 25, 2005 It should be treat on it's worth as all other habitable buildings are. Where I live that would be of consequence, although from what I see on here some regions pay very little. So really it would depend on where you live. Link to comment Share on other sites More sharing options...
Owens88 Posted September 25, 2005 Author Share Posted September 25, 2005 OK thanks. Sorry to labour the point but if the new property is about a quarter the size/value of the existing one would I be right to anticipate my buills giung up by about a quarter ?I supose I am being fearful of the additional property generating a set of tax billls in its own right and that there would be a substantial minimum amount before the 'size/value' thing really kicks in.John Link to comment Share on other sites More sharing options...
BJSLIV Posted September 25, 2005 Share Posted September 25, 2005 When you say part of the co-prop does that mean that it is part of a block of flats? Link to comment Share on other sites More sharing options...
Owens88 Posted September 25, 2005 Author Share Posted September 25, 2005 Effectively yes. Does that make a difference?John Link to comment Share on other sites More sharing options...
BJSLIV Posted September 25, 2005 Share Posted September 25, 2005 So if it is currently a separate property, are you intending to incorporate it fully into your existing residence?Bearing in mind that the taxes are based on the rental value , it would all come down to the perceived impact of combining the two properties. I would guess that one large property would have a lower value than combined rent of the two smaller ones. But it does appear that merely reviewing (out of date) assessments can have the effect of increasing the taxes, simply because improvements over the years are picked up.If on the other hand you are simply intending to renovate and perhaps rent it out as a separate unit it is likely that the smaller unit would have a higher level of charges than a simple pro-rata assessment might suggest. Link to comment Share on other sites More sharing options...
Owens88 Posted September 25, 2005 Author Share Posted September 25, 2005 Thank you BJI hesitate to give any of my thoughts the status 'plans' but you have set the scene very well.John Link to comment Share on other sites More sharing options...
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