IMU is an Italian acronym for Unified Municipal Tax, was introduced by the government’s “Save Italy” Decree. It is to be paid this year by owners of real estate properties located in Italy.
The first instalment will be paid in June, the second in September and the third in December.
For the taxpayer’s main residence house, IMU will be levied at the rate of 0.40% on the land registry value of the property, revalued upwards by 5% then multiplied by 160.
Municipal councils have discretion to increase the rate from 0.40% to 0.6%. Considering the budget cuts they have been subjected to, most municipal councils will most likely increase the rate.
Each properly owner is entitled to a discount of 200 Euros, so if after calculating IMU it appears that the property owner should pay 300 Euros, then the only amount to be paid will be 100 Euros.
There is a further deduction of 50 Euros for each dependent child who is under 27 years old.
The final figure is to be divided by three in order to know the amount to pay in each instalment.
Municipal Councils may increase the final instalment by up to 6%.
Please note that the discount is only valid once for each family, even if the family members live in different houses.
The Chamber of Deputies has approved an amendment to the law introducing IMU (Imposta Municipale Unitaria), making it possible for families to pay the tax in three instalments.
• Real Estate Taxation
• Calculate IMU
• Scheme to calculate IMU
All About IMU (Italian) (PDF version)
IMU – Form (PDF version)
IMU (PDF version)