Property tax (Imposta Municipale Unica – IMU)

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Are you planning to stay for a long time and buy a home? In that case, you will need to take into account the Property Tax. Known as IMU (Imposta Municipale Unica), it is levied on real estate and is managed at a local level . Although primary residences are usually exempt, there are exceptions, such as luxury properties.

The IMU is calculated based on the cadastral cayman islands phone number library value of the property , which is often lower than the market price. This makes it, although it is a recurring expense, somewhat more affordable than in other European countries with similar systems. For example, although this tax in Spain is also calculated on the cadastral value of the property, the rates are higher, usually ranging between 0.4 % and 1.1%.

How much does IMU pay in Italy?

The IMU rate ranges from 0.4% to 0.76% of the cadastral value. It depends on the region or municipality . As each locality has the power to adjust the percentage within these limits, the cost can vary significantly depending on the location of the property.

Let's say you buy a second home in Rome with a cadastral value of 300,000 euros. If the municipality sets the rate at 0.6%, you would pay an annual tax of 1,800 euros. On the other hand, if you buy a similar property in a small town in Tuscany, where the rate is 0.4%, the tax would be 1,200 euros.

Other taxes for important individuals in Italy
In addition to the above, there are other taxes that can affect your finances if you decide to move to Italy.