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GENERAL EXPENSES

 

PROPERTY TAXES
- LOCAL TAX (taxe foncière)
Local taxes are not very expensive in Paris. For a one bedroom apartment, this tax amounts to about 600 euros per year.
This local tax is levied on you, as owner, by the commune where the property is located.
- RESIDENTIAL TAX (taxe d'habitation)
This tax is payable by the occupant of the property, who may not necessarily be you, if you rent it. It is about the same amount as the local tax.

INCOME TAX
Owning an apartment in Paris, France: how does it work, as far as taxes are concerned? Is declaring it in the United States sufficient?
It's quite simple: any revenue coming from an apartment situed in France must first be declared in France, then in the country of residence.
How must this be done, both in France and in the United States?
For the answers to these questions as well as to those relating to the legal and fiscal aspects of investing in France (tax declarations, successions, etc.), we may recommend you to contact Jean Matthieu Dorelle , a trustworthy professional dorelle@pyxis-audit.com.

CO-OP CHARGES
Normally, the building in which your apartment is located is managed by an agent called “le SYNDIC” who is responsible for maintaining the common areas in the building and overseeing the management of the building.

Once a year, you will attend a general meeting ( Assemblée Générale) or your delegate in which you will decide all the improvement or repairs you and the other co-owners want for the building.

The charges ( charge de copropriété ) paid on a quaterly basis represent your contribution to :
* Managing agent fees
* Building insurance cost
* Maintenance and cleaning costs
* Concierge's salary, if there is one.

For a one bedroom apartment, co-op charges amount to about 100 euros per month, but it is dificult to give an average price since it depends on the type of building, concierge or not, elevator or not ...

UTILITIES - INSURANCE
Homeowners insurance – It can be arranged either through your bank or a referred insurance company and has to be in place at the time of signing the deed of sale.We will help you with this. The premiums are usually paid annually.
This insurance amounts to approximately 200 euros per year.

EDF-GDF services - we will call the EDF- GDF (electricity and gas suppliers) to inform them that you have moved in, give your name and address.
We will probably set up a direct debit with your bank – allowing EDF -GDF to collect the amount of your bill from your bank account directly; this is probably the most convenient way to pay your bills.
Subscription : 17 euros every two months plus consumption.

FRANCE TELECOM – we will also call them to get a phone number and subscribe the line.
Subscription : 26 euros every other months plus consumption.

NOOS, Cable TV – Once more you must call them to be connected to the service.
Usual package for TV cable and high speed internet : 50 euros/month.




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