Pay Zero € in Property Taxes on Your Primary Residence in Italy
Italy, renowned for its beauty and history, offers distinct property tax benefits. Typically, property taxes, known as “IMU”, range between 0.4% and 0.76% of the fiscal value, which is usually lower than the purchase price. Unique to Italy, there’s no wealth tax, and if you make Italy your primary residence for over 183 days a year, you’re exempt from property taxes. However, luxury properties, such as castles and villas, incur a 0.4% tax even as primary residences. In 2021, a new exemption was introduced: retirees living abroad owning property in Italy can enjoy a 50% tax reduction, a benefit extended to non-Italian citizens without the need for AIRE enrollment. Dive deeper into Italian real estate intricacies by subscribing to the newsletter. Ciao!