2008 Annual Report
The product of direct taxation: the revenues from the three direct local taxes (taxe d’habitation (residential tax) and taxes foncières (land tax)) paid by the taxpayers of Nantes.
Tax revenues in 2008: €155.5 million, or 36% of the City’s total revenues.
- Structure of total revenues in 2008
- Sustained evolution of the revenues from direct taxation, under a constant tax burden
- Reduction in allocations from central government
- Support from the urban community for projects carried by the City
- Other operating revenues
- Slight fall in capital receipts
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Representing 36% of total receipts, the revenues from the three direct residential taxes (taxe d’habitation (residential tax) and taxes foncières (land tax)) are the City’s primary resource (€155.5 million). The proportion of direct taxation in the operating revenues (42%) continues to increase due to the weaker dynamics of the other main revenues (central government receipts and community allocations).
Following a year of stability, the allocations and amounts of compensation from Central Government fell in 2008 (-0.7%), confirming the latter’s financial withdrawal. In total these came to €100.9 million, compared with €107 million in 2007, representing 23% of total revenues. For the first year, the total financial aid from Central Government fell in absolute value terms (- €0.8 million). The loss in purchasing power of allocations from Central Government is estimated at €13.4 million since 2003
With a €0.3 million increase in community solidarity allocations (€11.2 million) and of €0.7 million in compensation awarded (€41.2 million), the amount of taxation paid back by the Metropolis of Nantes increased by 2.0%, to stand at €52.4 million, or in other words 14% of the City’s operating revenues. To these two envelopes was also added the repayment of loan instalments in respect of the debt transferred to the urban community (€3.1 million).
Revenues from indirect taxation (€17.4 million) fell by 3.6%, in particular due to the effect of the fall in additional tax revenues from property transfer tax (-5.6%, from €12.9 million in 2007 to €12.2 million in 2008), provoked by the crisis in the property market. Other revenues from indirect taxation (tax on electricity, tax on live shows, etc.) increased slightly but still represent negligible amounts. Apart from taxation and allocations, other operating income (contributions and subsidies from other organisations, tariff revenues, etc.) fell by 1.6% , from €42.0 million in 2007 to €41.3 million in 2008.
Excluding debt, the City’s capital receipts fell from €40.6 million in 2007 to €37.3 million in 2008. These essentially comprise the subsidies provided by other organisations (€11.9 million, the overall rate of subsidisation being 21%), the VAT compensation fund (€7.5 million) and the sale of assets (€4.1 million). The reduction in these can essentially be explained by the completion of the works on the Château des Ducs de Bretagne and the reduction in the repayment of the debt of the urban community.