IMU Municipal Property Tax

Keeping a property vacant involves ongoing outgoings that weigh on every owner’s finances. The fixed and variable costs of an empty home range between €400 and €1,500 per quarter. IMU has a significant impact because, unlike properties used as a main residence, it must be paid. TARI is also almost always payable in full, except in rare cases involving homes without furnishings or utility connections. Electricity, gas and water bills continue to include fixed network charges even when consumption is zero.

Buying a second home in Italy can be a brilliant idea, but the costs and paperwork need careful attention.

The rules for joint residence for married couples include specific tax and registry regulations. If a husband and wife live in separate homes, the ISEE (Equivalent Economic Situation Indicator) and tax return requirements remain in place, while specific parameters apply to the IMU exemption and family status.

A striking figure: almost 2,500 high-net-worth individuals have already chosen Italy, generating an estimated €5.3 billion in tax revenue and wider economic impact. And the trajectory suggests far more, with projections reaching €38.4 billion by 2040. At the heart of this trend is a tax regime that, since 2016, has turned the country into a magnet for High Net Worth Individuals (HNWIs). But who are they, where do they come from, and above all, where are they investing in property?

If you're buying or owning property in Italy, it's important to understand the taxes that come with ownership.

Owning a property for tourist use involves specific local tax obligations. The law does not grant discounts simply because a property is left unused.

IMU (property tax) in Italy continues to be one of the most significant taxes for owners of properties, second homes, and buildings other than their primary residence.

If you own property in Italy, you may need to pay IMU (Imposta Municipale Propria), a local property tax. IMU is usually paid in two instalments: the first in June and, if required, the second in December.

Italy's 2023 Budget Law has changed the way IMU rates are published and made effective, which until now were considered tacitly confirmed from year to year. With the new rules, this will no longer be the case, which is causing concern in Italian municipalities.

IMU is an acronym for "Imposta Municipale Unica" in Italian, which translates to "Single Municipal Tax." and corresponds to Municipal Property Tax.

Knowing what the cadastral value of a property is and how it is calculated can be very useful when you decide to buy a house or inherit one.

On 16 December, owners of first luxury homes and second homes in Italy will be asked to pay the balance of the 2021 IMU tax.

With sentence 5294/2020, the Provincial Tax Commission in Rome has established that in the case of abusive possession of a property, IMU (Municipal Property Tax) is to be paid by those illegally occupying the property and not by the owner.  According to the Provincial Tax Commission in Ro

A problem shared is a problem halved according to the old saying. Italy is not the only European country in which property taxes have an impact on the economy of families.

From property tax changes to short-term rentals, the economic growth decree is a law that has been given the green light by the Italian House of Representatives and contains important measures for the real estate sector in Italy.

The new bill from the Italian political parties M5S and Lega, the so-called "simplifications package" or "pacchetto semplificazioni", has been given the green light by the House of Representatives and will now go to the Senate.

With its recent judgement 6882/2019, the Sezioni unite della Cassazione (Joint Session of the Court of Cassation in Italy) stated that is was lawful for a landlord to place a clause in an Italian lease agreement stating that the taxes and duties relating to the rented property should be borne by the

Up-front tax savings upon the purchase of a property in Italy Requirements These tax savings apply to anyone (Italian national or foreigner) who buys a “Prima Casa” in Italy.

The deadline for paying the second instalment of the Imu and Tasi property taxes in Italy is fast approaching, with the date being set for 17th December 2018.

Overall, Italian law requires all homeowners to pay Government and Local Council taxes.

18th June 2018 is the deadline for the payment of the Italian Municipal Tax (Imposta Municipale or IMU).

So you know where you want to buy property in Italy and what the average house price is there, but what about the continuing cost of maintaining the place?

The study centre Unimpresa has compiled a ranking of the most "charged" cities in Italy according to the level of taxes levied on homes, commercial properties, companies and families.