The atmosphere at Paris City Hall is exceptionally positive as councilors return from the summer, claims Emmanuel Grégoire, the first deputy to Socialist Mayor Anne Hidalgo. Asked about his state of mind ahead of the fall session, he interrupted the question: "I've rarely experienced such a good political start to the new term! Usually, people ask whether the municipal majority [made up of the Socialists, Greens and Communists] is going to hold together. The climate is very good right now! And there's the exciting prospect of the Olympic and Paralympic Games." His bubbly mood, however, might be shortlived.

A number of ominous matters have landed on his desk. First is the imminent issuance of property tax notices, with the levy raised by 52% in the capital this year, to bring it in line with rates elsewhere in France. The hike could plunge local public opinion into outright discontent.

Nelly Garnier, a member of the conservation opposition Les Républicains party on the Paris city council, said, "There have already been a series of tax increases – such as the price of parking – which had been watered down, but already illustrated a worsening of the city's financial situation. But here, the dizzying increase in property tax – which is contrary to the mayor's commitments – is a strong psychological marker that comes to show Parisians the direct and painful consequences of budgetary mismanagement: an increase in their taxes."

Added to this was the August 16 publication of an article in Le Canard Enchaîné newspaper, revealing a €500 million shortfall in notary fees for the Paris municipality, due to a drop in real estate transactions. This is nothing cataclysmic, said Grégoire, who insisted that "the figure is fanciful. It won't be that serious. We know we'll be hit a little hard, but that's easily absorbed thanks to our gross savings. Our budget is healthy."

Pierre-Yves Bournazel, a Macron supporter sitting in the Paris city council, nevertheless finds regrettable this "lack of advance preparation. I announced this market downturn as early as December 2022. In order to reduce the city's debt and maintain its vital investment capacity, this drop in revenue will make things more difficult. So there's only one solution: for the city to reduce the cost of living."

At the same time, the list of dissatisfied customers is growing. Booksellers on the quays of the Seine have been up in arms ever since the Paris police prefecture informed them in July that they would have to temporarily relocate 570 stalls to make way for the opening ceremony of the Olympic Games, on July 26, 2024.

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