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Italy Today

Italian news in English

Thursday, October 17, 2024

Italy's Property Tax Shake-Up

Published: 2024-10-09

Italy's Economy Minister, Giancarlo Giorgetti, has announced a revision of property values, leading to higher taxes for those who benefited from the Superbonus scheme.

This move, part of the 2024 Budget Law, aims to update property values, potentially increasing tax liabilities.

The revision targets properties that underwent structural improvements funded by public incentives.

While the announcement has caused concern, it aligns with existing legislation.

The impact will vary, with primary residences seeing minimal changes, but second homes facing significant tax hikes.

The exact number of affected taxpayers remains uncertain, as official statistics focus on buildings rather than individual units.