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Valeur Cadastrale (official value of property)


freddy

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I have just read that for wealth tax purposes (and other property taxes), the property value that has to be declared (less 20%) is not the market one, but the Valeur Cadastrale.

I have the 'Taxation in France 2002' book, and even that doesn't mention this fact.

Can anyone tell me if this official value tends to be higher or lower than the market value, and how it might be assessed?
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We have just signed for our house and the notaire told us that the tax we would pay would not necessarily be the on the amount we paid, but on the official value which could be either higher or lower. It would be assessed by an official body with reference to the mairie. I think.
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