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Property owners with an annual IMI value of more than €500 must pay the second instalment by this Saturday.
This deadline is for those who did not take advantage of paying the full IMI in May, who can get this possibility in the first installment when a payment reference for the total IMI is provided.
The Municipal Property Tax (IMI) rules currently in force provide that IMI invoices will automatically be split into two instalments (payable in May and November) when the value of the IMI invoice is between €100 and €500.
For amounts above €500, the tax is divided into three stages and must be paid in May, August and November.
According to official data, of the 3,878,309 collector tickets issued this year (IMI 2023), 686,504 were worth more than €500.
Of these, 946,759 were valued at less than 100 euros and 2,245,046 were valued between 100 and 500 euros.
IMI is levied on the tax asset value of the property, with a flat rate of 0.8% for rural buildings (land) and rates ranging from 0.3% to 0.45% for urban buildings (buildings and construction land).
It is calculated and collected by the tax authorities, but it is up to the local authorities each year to decide the rate they intend to apply in their municipality during the above-mentioned intervals, and it is also up to them to decide whether to include the Home IMI, a mechanism that provides discounts for resident households, or to apply a surcharge to empty or dilapidated buildings.
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