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New regulations regarding the property tax of first and second homes

21 December 2011

As of January 1, 2012 property tax (formerly called ICI – Imposta comunale sugli immobili), which has been suspended since 2008, is reintroduced (now called IMU – Imposta municipale) for first homes and significantly increased for properties which are registered as second homes.

The tax rate remains the same with 0,4 % on properties which serve as first homes and with 0,76 % for properties which serve as second homes. This tax rate is flexible in so far as each municipality can adjust it upwards or downwards for up 0,2 % for first homes and up to 0,3 % for second homes. The cadastral value of the property (to be found on the sales contract or with the local building authority of the responsible municipality) continues to serve as assessment basis for the IMU. This figure however is now adjusted by an upgrading factor of 5 % and then for reasons of approximation multiplied.

The approxinmation multiplier varies dipending on the type of property
  • 160 for private homes
  • 150 for agricultural plots
  • 140 für Werkstätten
  • 80 for office buildings
  • 60 for warehouses, industrial buildings and hotels
  • 55 for shops
Example

Cadastral value x 1,05 (upgrading factor of 5 %)
Result x 160 (approximation multiplier for private homes)
Result/ 100
Result x tax rate (for example 0,4 % or 0,76 %)
Result (minus possible deductions*) = property tax which has to be paid

* For properties which are used as first homes there is a deduction of 200 euros to which we add up to 50 euros for each child residing in the home under the age of 26 (up to a maximum of 400 euros).

The IMU has to be paid annually by all property owners and can be split in three installments. The first two installments of 33,3 % each are due on June 15 and September 15. Deadline for the remaining installment of 33,4 % is December 16. Please note: the tax IMU is an obligation to provide, this means the taxpayer him- or herself has to work out the amount of tax due and make sure all installments are paid on time. 

(Source: fiscoetasse.com from 05. and 19. 12.2011. tasse-fisco.com from 03.04.2012)

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