A tax applicable on most mooring sales in private marinas of the South of France, the "Right of Registration", has increased this March 2014.
The Right of Registration is a tax payable to the French Treasury when acquiring “social rights”, such as the shares in the marinas, which are sold between private individuals for the use of a berth over a period of time, some of which can be seen advertised on this website.
In accordance with the Finance Act of 2014, French departments are allowed, between 1st March 2014 and 29th February 2016, to raise the rate of Departmental Tax, which is part of the Right of Registration, from 3.8% to 4.5%.
As a result, all along the French Riviera, the applicable tax has increased. In the Alpes-Maritimes and in the Var, from now on, you will have to pay 5.81% of the price you purchase your berth-shares for (or more accurately 5.80665%). Until then, the tax rate had been 5.09% for almost a decade. It had previously been at peaks such as 19.585 %.
This increase is apparently affecting the local real estate market, as it has increased notary fees. Fortunately, berth share transfers need not be registered before notaries. One of the reasons for this increase, is that nowadays, in France, the county councils have an increasing number of responsibilities and more spending to cover, which was until then covered by other authorities, in Paris. This is part of decentralization. In some areas of the country, a decrease in the number of transactions has meant a decline in revenue for localities. The state has therefore enabled them each to pass a vote to increase this tax to cope with their growing social spending. 66 French departments have done so, among which the Var and the Alpes-Maritimes.
Depending on the marinas, port administrations have provided us with different tax rates to apply. In each case, we will try to keep you informed and updated as much as possible on this tax, on MooringSpot.com’s pages.
MooringSpot, April 2014.