Increased property taxes hit non-doms where it hurts

Hitting taxpayers where it hurts never wins many votes. So it comes as no surprise to see that capital-strapped governments around the world are looking at ways of raising taxes that won’t come entirely out of the pockets of their own electorate. The upshot is that advisers need to prepare non-resident and non-domiciled clients, as well as overseas second home owners, for a raft of property tax rises. Property taxes Most European countries have already raised property taxes. France introduced a ‘social charge’ of 15.5% on the sale of second homes, which bumps up the capital gains ta...