The Paris City Council has voted to sharply increase taxes on vacant homes in an effort to ease the capital's housing shortage.
The new surcharge, approved by councillors on Saturday July 18th, will replace the existing local tax on vacant properties and will apply to homes that have been empty for at least one year in areas where housing demand exceeds supply.
It will come into effect on January 1st, 2027.
Under French law, the standard tax rate is currently set at 17 percent of a property's rental value in the first year of vacancy, rising to 34 percent from the second year.
However, municipalities are now allowed to increase those rates to 30 percent and 60 percent respectively - a power Paris has now chosen to use.
