Property owners whose Municipal Property Tax (IMI) is more than 500 euros and who did not opt to pay the tax in full in May have until this Monday to pay the second installment.
Payment of IMI began in May, with the legislation governing the tax stipulating that it is paid in one lump sum that month when its value is less than 100 euros. If the value is between 100 and 500 euros, it is split into two installments paid in May and December.
If the amount exceeds 500 euros, it is divided into three installments of the same amount to be paid in May, September and December, and for these situations the deadline is this Monday, September 2.
IMI is a tax levied on the taxable value (VPT) of real estate, with a single rate of 0.8% for rustic buildings (land) and a rate of between 0.3% and 0.45% for urban buildings (constructions and building land).
The tax is calculated and collected by the Tax Authority, but it is the municipalities that decide each year what rate they want to apply in their municipality, within the ranges.
