Revision and increases. The impact on other taxes. The account in Rome and Milan. And two million families in the crosshairs. Also increase in excise duties on diesel fuel
What happens if the cadastral income of a house increases? Many are asking this question after the announcement by Economy Minister Giancarlo Giorgetti. Who indicated that the update would apply to properties that have benefited from bonuses and ghost properties. A decision which will lead to an increase in the IMU on second homes. This is accompanied by the reduction in renovation bonuses. With higher costs for owners. How much will they increase? From 16-18 years old up to more than 30%. And two million families will have to pay higher taxes. Excise duties on diesel will also increase by one cent per year for the next five years. But trucks will be exempt.
Revision of cadastral income
The revision of the cadastral income is an obligation. Last year's finance law provides for this for buildings which have seen their value increase by at least 15% after renovation work. This obligation was provided for in 2005. The Revenue Agency is responsible for verifying whether the request for review has been filed. The deadline for completing the operation is 30 days from the end of the work. The penalties for those who did not do so amount to 8,264 euros.
Increasing the cadastral income then means having to pay a series of additional taxes. That is to say the Imu on second homes, the registration tax paid on real estate sales deeds and inheritance taxes in the case of properties given or left as an inheritance. The revision of pensions, explained today Il Sole 24 Orewill result in increases ranging from 16% to 35%, in the event of a double jump in cadastral class.
How much more do you pay with MOT?
And so these increases will be reflected in the IMU for second homes. This means that those who pay 900 euros today will be able to find an increase of 300 euros in Rome. Whereas for a five-room property in Milan, the increase could exceed 700 euros. In Palermo, an increase in income will result in increases of between 74 and 165 euros. In Florence, the increases will start from 165 and reach 358 euros.
According to Nomisma, 28% of non-prime housing units will have to pay more with the update. For these, we would go from an average tax of 1,047 euros per year to 1,337 euros, or 290 euros more, which multiplied by the number of households concerned would lead to an increase in IMU revenue of approximately 126 million euros. Currently, the average cost of IMU in the North-West is 1,060 euros, compared to 1,027 in the North-East. In the center it amounts to 1,144 euros, while in the south it costs 982 euros and in the islands it costs 829 euros.
The effects of increased income on other taxes
In addition to the IMU, the TARI, or waste tax, will also increase. Because it is calculated on the cadastral area, which will increase the amount. Updating the Land Registry, he explains The press this will also lead to increases in the ISEE, i.e. the indicator used to calculate benefits such as the Single Allowance. The IMU is also included in the ISEE and with the recent reform the properties have acquired more weight in the calculation formula. Then there are sales taxes. Anyone who buys a house from an individual (or from a company that sells VAT-free) must pay a registration tax of 2% (for a minimum amount of 1,000 euros) for the first house, 9% on the second house, on land register. value of the property. Added to this are the mortgage tax equal to 2% of the value of the property and the cadastral tax equal to 1% of the value of the property.
Building bonuses
The revision of tax incentives will lead to a drop in construction turnover. The incentives of recent years – and not just the Superbonus – have given the sector a boost. And they were worth half of the Italian growth in 2021 and 2022. Among the ordinary bonuses, remember Republicexpire on December 31, 2024: Ecobonus, Sismabonus, Furniture Bonus and Green Bonus. Until the end of 2025, the Barrier Bonus will still be in effect. Most of the work will fall under Home Bonus. With a rate of 36% and a spending ceiling of 48 thousand euros. Among the taxes that will increase with the revision, there is also the Irpef for those who have an unrented second home in the same municipality where they own their main residence. And anyone who buys a renovated house with the Superbonus will have to pay a higher registration tax.
The pension review
According to the law, the revision of the pension must be declared to the Revenue Agency. If he does not do so, the compliance letter will arrive with the invitation to comply. Finally, in the case of a second home, capital gains tax must be paid regardless of the date of purchase if it is resold within ten years following the end of the work. The taxpayers affected are estimated between 1.5 and 2 million. Although it is impossible to know what Superbonus work was carried out on the first property versus the second home.
