PLF 2020: towards the IFI exemption for “small castles”

An amendment to the PLF 2020 aims to exempt from the IFI historical monuments in rural areas on the model of forests. It was adopted in the Finance Committee. investissement défiscalisant
The follow-up of the examination of the bills of finance always reserves surprises. After tabling amendments that want to revisit the tax benefits of life insurance, a surprise amendment around the IFI was presented by the LR deputy of the Val-de-Marne Gilles Carrez and adopted this Tuesday, October 8, 2019. comment défiscaliser en immobilier
l is designed to exempt from property wealth tax (IFI) “small castles” in rural revitalization zone and whose owner has a main job outside (and therefore can not declare it as a professional property).
“In many territories (…), buildings classified or registered as historic monuments are a development issue (…), details the explanatory memorandum. However, their owners are almost always required to work outside the home, which is deemed to be the main one: this deprives them of the benefit of the exemption of the IFI that Article 975 of the General Tax Code reserves for property assigned to the property. main industrial, commercial, artisanal, agricultural or liberal activity.
Another reason, underlines the statement of reasons, is that “these goods can be subject to high valuations of the market value resulting in the application of excessive amounts of IFI” when, in fact, they are often very difficult to sell.
Keep the property for at least 15 years
The amendment therefore proposes to introduce a 75% exemption, on the model of the exemption already applicable to timber and forests. This exemption would be reserved for classified or registered buildings located in rural revitalization zones, when they give rise to activities (B & Bs, seminars, visits, etc.).
Finally, to avoid the windfall effect, the owner must make a commitment to keep the monument for at least fifteen years.