French General Tax Code
In forceI. - In the départements of Guadeloupe, French Guiana, Martinique, Mayotte and Réunion and unless otherwise decided by the communes or groupings with their own tax system, under the conditions set out in the article 1639 A bis, the basis of assessment for property tax on built properties for rental accommodation mentioned in article L. 441-1 of the Construction and Housing Code, belonging to semi-public bodies or companies cited in articles L. 411-2, L. 472-1-1 and L. 481-1 of the same code, is subject to a 30% allowance when these dwellings are the subject of improvement work, with financial assistance from the State pursuant to 3° of article L. 301-2 of the same code, with the aim of protecting them from the foreseeable natural risks listed in I of article L. 562-1 of the Environment Code.
The abatement is applicable for taxes drawn up in respect of the five years following that of the completion of the work, which must take place no later than 31 December 2021.
The nature of the work giving entitlement to the allowance and its compliance with the provisions of the first paragraph are set by joint order of the Minister for Overseas France, the Minister for Housing and the Minister for the Budget.
II. - In order to benefit from the allowance provided for in I, the organisations or companies concerned must send the tax department where the property is located, before 1st January of the year following the year in which the work was completed, a declaration in accordance with the model drawn up by the administration, including all the information required to identify the property. This declaration must be accompanied by documents proving that the grant has been awarded and paid by the State and that the work has been carried out. Where the declaration is submitted after the deadline, the allowance applies for the period remaining after 31 December of the year in which it was submitted.
The benefit of the allowance provided by article 1388 bis cannot be combined for the same period with the allowance provided for in this article.
When the conditions required to benefit from the allowance provided for in article 1388 bis and those provided for in this article are met, the organisation or company must opt for one or other of these schemes before 1 January of the first year in respect of which the allowance chosen takes effect.
However, the benefit of the provisions of this article is granted on expiry of the period of application of the allowance provided for by article 1388 bis, less the number of years in respect of which this allowance was applied.
