The project for a new property tax for non-resident property owners planned as part of the tax reform debate in Parliament, will be abandoned, Thierry Mariani, Secretary of State for Transport, told AFP on Saturday after a meeting with President Nicolas Sarkozy and Budget Minister Baroin.
It is estimated, the proposed new tax would have affected approx. 360,000 properties and owners. The amount of the proposed tax was to be calculated on the Taxe Foncière amount, effectively 'doubling' the land tax.