Property tax: exemption for new or improved social housing extended from 15 to 25 years

The length of the property tax exemption on built property for new social rental housing (article 1384 A of the General Tax Code) and acquired-and-improved housing (article 1384 C) rises from 15 to 25 years when the grant or subsidised loan decision is taken between 1 July 2004 and 31 December 2009. The exemption is extended to social housing in the overseas departments financed by specific loans and, for 15 years (25 depending on the grant date), to dwellings of the Nord-Pas-de-Calais public property management body improved with ANAH aid. Revenue losses from the extension are fully compensated to local authorities.