Italian real estate taxes – IMU & TASI

Italian real estate taxes – IMU & TASI

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Question:  What are IMU and TASI? When are they due?

Answer: IMU and TASI are Italian Municipal Property Taxes. However, since 1 January 2020, there is no longer a separate payment for Property Service Tax (TASI) as it has been incorporated into the Ownership Tax (IMU).

If you missed the TASI payment in 2019 or before, TASI is still due for those years.

IMU is due twice a year, by the 16 of June and by the 16th of December, referring respectively to the first semester and the second semester of each year. Owners of Italian property are required to pay IMU for each month of property ownership.

For example, if you purchased the property on the 23rd of March, i.e., within the second half of the month, you are responsible for IMU from the 1st of April on and the previous owner is liable for up to the 31st of March.

PAY NOW IMU (and TASI for past years)

Bear in mind that for a property that is jointly owned, each owner is responsible to pay the respective tax share separately. This means that the local Municipality expects a payment from each owner, even for property jointly owned by a married couple, if both spouses names are on title.

IMU Exemptions

You do not have to pay IMU for the property you live in as your primary residence, registered as such in your Italian tax return or on your Italian ID. Additionally, there is a 50% exemption if your parent or your child lives at the home as their primary residence (Comune residency) for free. For the 50% to apply, make sure you have a rent free lease agreement signed with them and filed with the Italian Tax Authority. Please be aware that the exemptions only apply from when you acquire residency with the Comune, any time prior to that time, you will be charged the full rate.

However, if the unit is a “luxury property“, defined as such on tax record (tax category A1, A8, and A9), you are still required to pay IMU even if it is your (or your parent/child’s) primary residence.

Additional reduced IMU rates and exemptions might apply depending on property status, owner’s conditions and local rules.

IMU legislation gets amended rather frequently. From semester to semester applicable rates and exemption rules might change.

Pay your Italian IMU (and TASI for the past years).

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