Property owners with an annual IMI exceeding 500 euros have until Monday, August 31st, to pay the second installment of the Municipal Property Tax to the Tax Authority. This deadline applies to those who did not pay the full amount in a single payment in the first installment, in May.
The IMI Code rules provide for different payment dates depending on the annual tax amount. If IMI does not exceed 100 euros, payment is made in a single installment in May. If it is between 100 and 500 euros, the amount is divided into two installments, in May and November. Only when IMI exceeds 500 euros is the amount divided into three annual installments.
IMI applies to the taxable patrimonial value of properties, with a single rate of 0.8% for rustic properties and a rate between 0.3% and 0.45% for urban properties. Local authorities decide on the rates applied in each municipality within these ranges. Vacant properties that have been unoccupied for more than one year or in ruins, located in areas of urban pressure, are subject to a rate ten times higher than the normal rate, which is further increased by an additional 20% in each subsequent year.
Taxpayers with children under 25 can benefit from the "family IMI", a discount that varies according to the number of children: 30 euros for one child, 70 euros for two, and 140 euros for three or more. This benefit, which only applies in municipalities that have adopted the incentive, is automatically applied by the tax authority based on information from taxpayer records and income tax returns.
