Good news for retirees! If your tax income does not exceed a certain amount, you will be able to be exempt from property tax. We’ll explain it to you.
While the income declaration for the year 2024 has been closed since June 6, and taxpayers are now waiting for the return of the FISC to pay or be reimbursed for an overpayment or tax credit, there has another tax that sits above the heads of citizen owners: property taxthe amount of which has exploded in recent years, and which has seen its rate increase by 4% in 2024.
Despite these rising figures, some information represents good news for a certain category of people. These are retirees, aged 65 and over. Under certain conditions, they can benefit from a exemption from property tax. Are you affected? We take stock.
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What is property tax?
This tax is due by all people who own real estate, whatever its nature: house, apartment, land or commercial premises. Just like the housing tax, the property tax is based on the situation on January 1 of the tax year. As for the amount, it depends on the type of property, but also on its surface area, equipment and even location. For example: a 200 m² villa in the suburbs will be taxed more than a garage in the city center.
The property tax is sent by the tax administration at the end of each summer. And if the majority of taxpayers are liable, certain people can benefit from relief, or even total exemption. The first concerned are the Aspa holders (solidarity allowance for the elderly) or supplementary disability allowance, regardless of the amount of their income. Some retirees can also claim an exemption.
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Property tax exemption: who is affected?
Are you over 75 years old? You may be able to get rid of the property tax on one condition: that your tax income does not exceed certain ceilings. Are you between 65 and 75 years old, subject to respecting these same ceilings? You can be entitled to a tax reduction of 100 euros. Knowing that the age condition can only be met by one of the spouses.
Regarding the ceilings, to be exempt from the 2024 property tax, your reference tax income (RFR) of 2023 must not exceed €12,455 for the first share, plus €3,326 for each additional half-share. As a couple, you will be able to benefit from an exemption or a reduction of 100 euros if the reference tax income does not exceed €19,107 in total. Also note that if you completed your tax return this spring, you do not have to take any special steps. The condition for benefiting from this deduction will be calculated automatically based on the data transmitted. Your RFR, for its part, can be consulted on your status notice which you should have received once your declaration has been made.