16th June and 16th December each year are the deadlines fixed for payment of the local Municipal Property Tax (IMU) which was introduced in Italy in 2011. These are key dates which non residents buying property in Italy should be aware of.
IMU is payable in relation to immoveable property or agricultural land.
Owners who have their main residence fixed at the property are not liable to pay IMU, unless the property is registered as a luxury property (shown as category A/1, A/8 or A/9 at the Land Registry – Agenzia delle Entrate). By fixing a property as a main residence this means the owner would need to be registered as resident at the address with the Office of the Anagrafe at the local Comune, and have declared the property as their “prima casa”.
Property-owners who are resident outside Italy will be responsabile for payment of IMU. Payment of the tax is normally made by a F24 paid through an Italian bank account. If there is more than one owner then each owner is legally responsable for payment according to their percentage share.
The Comune does not send out a bill for IMU, the owners are expected to be aware of the deadlines and calculate and pay the tax themselves. It is advisable to instruct a local accountant to make the annual calculations and arrangement payment.
Persons inheriting Italian property are liable to pay IMU from the date of death of the property owner. Each heir is responsable for their individual share. An heir is not liable for payment if after death they fix their main residence at the property.
The responsability for payment lies with the owner of the property irrespective of whether the property is occupied or rented. Before selling a property an owner must declare that taxes have been paid to the date of sale.
Non-payment of IMU carries a risk of an assessment being made by the Comune which can then be registered as a prejudicial charge on the propprty including fines and interest.
IMU is calculated on the basis of the “valore catastale” and multiplied by a coefficient fixed by the Comune which is decided every year. The coefficient can vary between Comune, and is higher in the major cites. The valore catastale is calculated from the “rendita catastale” of the property including any separate storerooms or garages.
If any installment of IMU is paid after the 16th June or 16th December deadlines there will be a fine and interest due up to the date of payment which is paid by the procedure of “ravvedimento operoso“.
In addition to IMU the Comune every year also requires payment of a local property tax which covers refuse collection (TARI). This tax is usually calculated and sent by post to the property.