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Paris Is Tripling Its Tax on Second Homes

City hall hopes an added cost will free up more housing for full-time residents.
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Philippe Roos/Flickr

Have you ever dreamed of owning a second home in Paris? Well, that dream is about to get a whole lot more expensive.

On January 30, Paris will triple its surtax on second homes, raising the extra charge paid by owners from 20 percent of the standard property tax up to 60 percent. As a result, people who own second homes in Paris will pay more than one and a half times the property taxes paid by people who either live in their homes or rent them out to full-time tenants.