France's wealth tax is again part of the debate ahead of the 2027 presidential race. Marine Le Pen, the National Rally (RN) candidate and frontrunner in the polls, presented her fiscal plan on October 6, 2026, promising €140 billion in savings by 2032. Her party has also proposed, in its 2022 presidential program, to abolish the IFI, the tax on high-value real estate, and to create a new tax on financial wealth in its place.
This is a campaign pledge, not law. No bill has been filed, and no rate or threshold for the new tax has been published. But the idea would change who pays wealth tax in France, and it matters to property owners, investors and anyone weighing a move into or out of the country.
Key takeaways
- The RN's 2022 presidential program proposed to abolish the IFI and create an "impôt sur la fortune financière," a tax on financial wealth.
- The IFI today applies to net real estate wealth above €1.3 million, at rates from 0.5% to 1.5%.
- Le Pen's October 2026 plan targets €140 billion in savings by 2032 and a deficit below 3% of GDP by 2030. Government ministers called it unrealistic.
- Any change would need a finance law passed by Parliament after the April 2027 election.
What the National Rally has proposed
The RN's list of "22 measures" for the 2022 presidential election, still published on the party's website, includes abolishing the IFI, which it says taxes people for putting down roots, and creating an IFF, a tax on financial wealth, aimed at speculation. The text gives no threshold, rate or list of exemptions. The October 2026 budget plan, as reported by France 24 and Euronews, did not set out details of a wealth tax change.
On October 6, Le Pen set out the budget side of her campaign. France 24 reported that she pledged €140 billion in savings by 2032, a deficit below the EU's 3% limit by 2030, and a referendum on a "golden rule" requiring debt to fall each year. She also wants to lower the retirement age to 62, or even 60.
The government pushed back the next day. Euronews reported that the plan assumes 1.8% growth, which Economy Minister Roland Lescure said was well above what serious economists project. Public Accounts Minister David Amiel called it a "Potemkin budget." The plan also includes about €30 billion in tax cuts.
How the IFI works today
The IFI (impôt sur la fortune immobilière) replaced the broader wealth tax, the ISF, on January 1, 2018. It taxes only real estate, held directly or through companies, and not financial assets such as shares, bonds or bank deposits. According to the official Service-Public guide to the IFI, it applies when net taxable real estate wealth exceeds €1.3 million on January 1. Once that threshold is crossed, the scale starts at €800,000:
| Net taxable real estate | Rate |
|---|---|
| Up to €800,000 | 0% |
| €800,001 to €1,300,000 | 0.50% |
| €1,300,001 to €2,570,000 | 0.70% |
| €2,570,001 to €5,000,000 | 1% |
| €5,000,001 to €10,000,000 | 1.25% |
| Over €10,000,000 | 1.50% |
Property used for a person's own business activity is generally outside the scope, and debts linked to the property can be deducted.
What a shift to financial wealth would change
Moving the base from property to financial assets would change who pays:
- Property owners with large real estate holdings and few investments would pay less, or nothing, if the IFI disappeared.
- Investors with large portfolios of shares, bonds, funds or life insurance could pay more, depending on the threshold and exemptions.
- Business owners would watch the treatment of their own company shares closely. Wealth taxes often exempt working business assets, but the boundary between a working business and a passive holding company is often disputed.
Financial wealth is also more mobile than real estate. A building in Paris stays in France if its owner leaves, but a share portfolio can move with its owner. France already has an exit tax for people who leave with large securities holdings: it applies after six years of residence in the last ten, to portfolios over €800,000, with deferral for many destinations. Our list of countries with exit taxes explains how it works. A tax on financial wealth would make those departure rules more relevant for anyone considering a move.
The wider wealth tax debate in France
The RN proposal comes after two years of fighting over how to tax the very rich. A "Zucman tax," a 2% minimum tax on fortunes above €100 million named after economist Gabriel Zucman, passed the National Assembly in February 2025 but was rejected by the Senate in June 2025. The Assembly then voted it down again on October 31, 2025, during the 2026 budget debate, with centrist parties, the right and the RN voting against. The government instead proposed a narrower tax on personal holding companies.
France is not alone in this debate. Our guides to Spain's wealth tax and solidarity tax and to non-dom regimes in Europe show how other countries handle wealth and new residents.
What happens next
The first round of the presidential election is due in April 2027. Even a winning candidate would need a finance law passed by both chambers of Parliament to abolish the IFI or create a new tax, and the RN has never held a majority in the National Assembly. The Constitutional Council can also strike down tax measures it finds unequal or confiscatory.
Until then, the IFI rules above remain in force. People affected may want to follow the details of any bill, if one is filed, before drawing conclusions.
Frequently asked questions
Does France still have a wealth tax in 2026?
Yes, but only on real estate. The IFI applies to net real estate wealth above €1.3 million. The broader ISF, which also covered financial assets, ended in 2018.
What is the impôt sur la fortune financière?
It is a tax on financial wealth that the National Rally proposed, in its 2022 program, to create in place of the IFI. No rate, threshold or exemption list has been published, and it is not law.
Would the change affect people who leave France?
It is too early to say. France already has an exit tax for departing residents with large securities holdings, and its rules would continue to apply unless they were changed by law.
Important: This article is general information, not tax, legal or financial advice. Rules change often and depend on your personal circumstances. Speak with a qualified professional in each relevant country before you act.