What is IMI, and when do I have to pay it?

IMI (municipal property tax) is an annual tax paid by anyone who owns a property on 31 December of each year. The revenue goes to the municipality where the property is located.

The amount of IMI depends on the property's taxable value (VPT) and the rate set by the municipality, which normally ranges between 0.3% and 0.45%.

For example, for a property with a taxable value of EUR150,000 and a rate of 0.35%, the annual IMI would be around EUR525, payable in one or several instalments over the year.

In practice, this is a fixed annual cost that should be included in the household budget, even after the purchase and regardless of whether the mortgage has already been repaid.