Basically it is looking to cut out the loop hole which allows home owners to declare and pay taxes in the country they are resident in which means that the French government miss out.
Now, we have recently had to start paying a 'Tourist Tax' which is, put simply, anyone who stays at La Pagerie should be taxed for each night that they stay with the odd exception. We are unable to increase the cost of the rental weeks to cover this extra tax so we end up paying for it.
With this new tax it is thought that it will be 20% of the 'base' value of your property which in our case will be an extra 400€ to 500€ per annum.
Add onto this the other taxes (d'habitation, fonciéres, taxe de sejour) then we will be looking at an annual tax bill of 3,500€ before any other cost.
Voting on this bill is in July 2011 - personally I am keeping my fingers crossed for a no vote but I am fully expecting a yes vote!