Two houses with the same Tax Patrimonial Value can pay different amounts of Municipal Property Tax. The reason lies in the rate applied to each property, which is set annually by the municipal assembly of the area where the building is located. For urban buildings, the rate is generally between 0.3% and 0.45%, and can reach 0.5% in exceptional situations. Thus, two houses with a VPT of 200 thousand euros can generate bills of 600 euros in a municipality with a rate of 0.3% and 900 euros in another with a rate of 0.45%, a difference of 300 euros per year.
The Tax Patrimonial Value does not correspond to the purchase price or the market value of the property. The VPT is calculated according to a formula in the IMI Code that takes into account factors such as area, location, use, construction quality, and age. A house purchased for 300 thousand euros may have a significantly lower VPT. It is on the VPT, recorded in the property register, that the municipal rate is applied to calculate the tax due.
There are also situations where the rate may be increased or reduced. Degraded buildings may be subject to an increase of up to 30%, while buildings vacant for more than a year or in ruins have the rate tripled. In areas of urban pressure, the increases are even higher. On the other hand, there are reductions for areas subject to urban rehabilitation operations, combating desertification, or for rented properties. Municipalities that join the Family IMI grant deductions of 30 euros for households with one dependent, 70 euros with two, and 140 euros with three or more.
IMI payment is made the following year, in installments that vary according to the total amount. If it is equal to or less than 100 euros, it is paid in a single installment in May. Between 100 and 500 euros, it is divided into two installments in May and November. Above 500 euros, there are three installments in May, August, and November. The rates for each municipality and parish can be consulted on the Finance Portal.
