Residences listed or classified as Historic Monuments are subject to very specific tax rules, whether in terms of VAT or the tax system. Whether for a purchase or as part of an inheritance.

There are 2 types of protection for historic monuments. Registration and Classification. Registration is the first level of protection, where conservation is of regional interest in terms of history and architecture. Classification is the second level of protection and is of national interest. Grants and subsidies are specific to these 2 levels of protection in France.

The VAT

Work to improve, convert, fit out or maintain a listed building is subject to the reduced rate of 10% VAT.

The tax system.

In return for the expenses incurred by a heritage property that has been listed or registered as a historic monument, property expenses are deductible from overall income. Depending on whether or not the property is open to the public, this may be either in full or in part.

There is no limit to the amount of the property deficit that can be charged against overall income, and it can be carried forward until the sixth year.

These tax benefits are subject to certain conditions.

-Possession of a listed or registered historic property for a period of 15 years.

-No co-ownership.

-Ownership by a non-trading property company (SCI) whose partners come from the same family.

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This property is allocated for 15 years as a non-commercial cultural space and is open to the public.

Heritage sites.

The tax reduction is 22%.

Inheritance tax.

Exemption from inheritance tax is subject to the signing of an open-ended agreement between the Ministry of Culture and the legatees and donees. The latter undertake to preserve the residence and open it to the public for a minimum of 60 days.

VVGroupe heritage estate agency will work with you and advise you on the best way to meet your needs.