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France's Latest Tax Target: Vacation Homes

A villa on the French Riviera
A villa on the French RivieraPhotograph by Christophe Boisvieux/Getty Images

President François Hollande’s “no new taxes” promise didn’t last long. Now he wants to raise taxes on people who own vacation homes in France.

The government will propose a 20 percent surcharge on housing taxes paid by owners of secondary residences–from the Paris pieds-à-terre and Riviera villas of the super rich to more modest vacation getaways owned by many French families.