Owners of properties whose annual IMI value exceeds €500 must pay the second instalment of this tax by this Saturday.
This deadline is for those who do not take advantage of the month of May to pay the full IMI, an opportunity that is given to them with the first instalment, when a link is provided to pay the full IMI.
The current rules for municipal property tax (IMI) provide that the IMI invoice is automatically split into two payments (paid in May and November) when its value is between €100 and €500.
If the 500 euro mark is exceeded, the tax amount is divided into three installments, which must be paid in May, August and November.
According to official data, of the 3,878,309 issued this year (according to IMI for 2023), 686,504 were worth more than €500.
Of this total, 946,759 were priced at up to €100 and 2,245,046 were priced between €100 and €500.
IMI is levied on the value of real estate tax assets, including a flat rate of 0.8% for rural buildings (land) and a rate that varies from 0.3% to 0.45% for urban buildings (buildings and land for development).
It is calculated and collected by the Tax Office, but it is the local authority that decides each year what rate they want to apply in their municipality within the above-mentioned ranges, and it is also up to them to decide whether to join a family. IMI is a mechanism that provides discounts to existing families or applies higher rates to empty or dilapidated buildings.