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Farewell to the house (with Imu in charge): never forget this communication

Complicated time for property owners. As well as for the aspiring ones. And the land registry reform could bring news for the house.

Buying a house is the biggest expense, on average (but not only), made by a citizen. Also for this reason it is not always possible to get to buy a property.

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The rise in mortgage interest rates is set to further discourage prospective applicants. The revaluation made by the ECBwith the cut in Quantitative easing, has definitively closed the period of purchase of debt securities, thus bringing member countries back to a condition substantially pre-pandemic. Not to mention that, as explained by the president of the European Central Bank, Christine Lagarde, the rise in rates is destined to continue, albeit more gradually, also over the next few years. It is clear that the general situation, this being the case, does not favor the economic availability of Italian families, nor the possibility of accessing mortgages in a simple way, given the increase in the installment (especially for variable rates).

It would be positive to receive a donation or an inheritance but not everyone is so lucky. On balance, therefore, the historical moment to reconcile the expenses of everyday life and those for one’s home it is far from favorable. Also for this reason it is good to be careful if you already own it. It is true, in fact, that some ad hoc concessions have already been conceived, such as the relief from the Imu on the first home, or the reduction of the registration tax and VAT for purchases respectively in private and from a business. But be careful, because the municipal tax is not always removed in the case of a first home. Under certain conditions, it will continue to be payable on a mandatory basis.

Buying a house, difficult time: what to watch out for if you already own

The Imu exemption was ordered in 2011 but, by subsequent provision, is mandatory only for what concerns the second home. Basically, if a property owner also owns a second one, he will be required to pay the tax. This, however, it does not completely shelter the owners from the mandatory obligation. In fact, there are exceptions that impose the Imu also on the first house, even in the absence of a second property owned. It should be remembered that the tax is due for the main houses included in the cadastral categories A / 1 (stately homes), A / 8 (villas), A / 9 (castles or palaces of historical and artistic value). Wanting to categorize as much as possible, the reference is to the so-called luxury homes. A number of apparently small properties, at least for what concerns the majority of citizens.

However, we must also pay attention to another detail. In fact, the building incentives have led (or could lead) some homes to a cadastral revaluation, by virtue of a structural or energy enhancement. A definition that will come more clearly when the land registry reform will arrive at checkers but which, even now, requires owners to become aware of the future of their home. The goal is to update the land registry to minimize illegal building, up to eliminate it completely. In this sense, some houses revalued through the valorisation carried out could undergo a cadastral click. In this way, in addition to the loss of incentives, one would end up with the obligation to regularize one’s property based on the variation in cadastral income. With Imu in charge of course.

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