my question is about the approximate (if not specific) amount of tax my friend might pay on the following kind of property with the following characteristics - and let me know if you need any other information. thank you.
The property (property and furnishings) was purchased recently within the last five months it is currently in an SCI. The property was sold for 3.1 million euros. i can tell you approx where it is if you need to know that as i realize that different counties have different tax rates...
The chateau, outbuildings, gardens are all listed ISMH as of 1992. There are 195 hectares, which comprise fields, lakes, rivers, and forest. The dependencies consist of various rental suites as well as agricultural barns, workshops, garages, stables, and a very large underground space also.
There is about 1.5 m euros of repairs, renovations, and upgrades that need to be performed, which will make it available as a public park and a rental location and use as a school. It will be open to the public for the required number of days. It is estimated that the restorations will take 3 years to complete, but it will be open for operation after the second year.
Some of these restorations will be energy saving improvements.
The property is expected to have operating costs of 300,000 euros annually.
The property is expected to generate a rental income of 1.2 million euros annually after the 2nd to 3rd year.
The people paying the tax would be living in the property and it would be their primary residence. is there a way to estimate the level of tax with all these actual deductions, that one would pay (obviously there would be inspections etc.) THANKs for getting back to me. I will be happy to rate you..