catastal values due to rise

[adriatica]

it looks like after a long time that they are going to start the big property value increase... at least as regards the valuation for taxation purposes...

the results will be... higher ICI ... higher tax to pay when you buy a property... increased condo charges if you happen to live in one of those type of buildings...and of course as all costs are generally passed on it will knowck up the price on certain other things too,,,

the big valuation exercise is to take place from june and be finished by the end of the year...

ok i can hear the same old story coming out again ...it will still be much cheaper than the UK council tax... but people here do not earn UK salaries so for the normal italian its not the best of news...

if anyone thinks about it or is even interested there was a time when the mayors of all the cities and the regional provincial politicians were up in arms abot the new finance act and the lack of funds from the new government ...that protest suddenly went quite and now its pretty clear to see what was agreed...

so whats going to be the result... it could bring more houses onto the market... people might not want to justify the cost of two three or four houses and decide to sell a few... if they get it done before the values are finalised then the tax paid by the buyer will be on the old value... which in my opinion will always be lower... cannot imagine any place in italy where there will be a reduction....

i am not saying to rush into things because of the change...but it would pay to keep an eye on things if you have a final act due towards the end of the year ... its a quetsion to ask your estate agent at least and show you are aware that there might be changes

the other thing if it does bring more houses on it could have a reverse effect say the market price could fall in certain areas and the fall could well cover the increase tax to pay ... or even give you more bargaining power over the seller...

funny thing ... berlusconi was going to abolish ici on first houses ... and it would have been second/third home owners only that were going to pay the higher rate...

[adriatica]

actually a bit sad replying to my own thread but watched ballero last night in which the above news came under discussion so its really a bit of an update....

they produced a card with calculations... estimate of the increases basically

an average 100,000 house catastal value will have a market value of 300,000

they used a formula averaging out catastal values as 1/3 market values

estimated ici now 370 ... after revision 1370

of course there will be areas ...say the molise on a remote hilltop where the market value will not be three times the catastal value...conversely rome city centre or milan will maybe be five times

so these are average estimates and it seems where market values have increased more dramitically over the years the increase will be higher... quite a bit higher

[Relaxed]

If you would prefer not to panic to early, this article in the Italian serious financial press is relevant - in particular the last paragraph.

http://www.ilsole24ore.com/art/SoleO...lesView=Libero

[arty]

my italian is in a fledgling state - i don't intend for it to stay that way - i ran the article thru Googles autoamtic translation and I think from the gobbliegookenglish that resulted that it is saying that it will be a long time before it is implemented eg 2008 and this will depend on election results too.

Did I understand correctly?

[Sebastiano]

Originally Posted by arty

my italian is in a fledgling state - i don't intend for it to stay that way - i ran the article thru Googles autoamtic translation and I think from the gobbliegookenglish that resulted that it is saying that it will be a long time before it is implemented eg 2008 and this will depend on election results too.

Did I understand correctly?

Only in part in that the process has already started.that it will take time is inevitable.and it is not dependent on elections.
one of the big "novelties" is that the management of the catasto(land registry) will gradually be moved to the comuni.this will force local authorities (given the reduction in funds tranferred from central government)to look at with greater severity (quote) the thousands of injust situations.This will be particularly heavy for those who have bought old farmhouses/ruins etc and have restored them into extremely attractive and comfortable residences.In time they will inevitably be re classed as villas with all the inevitable consequences of in some cases enormous increases in their catastal value and consequently on their ICI rating.The changes in the purchase procedures is only one small sep towards this.

[manopello]

It would be good if someone could list the catergories for properties in Italy or bands as they are called in the UK.

The idea of an old farmhouse being relisted as a villa made me chuckle.Is it just those places that have been 'revamped' to look like an East Ender's holiday home on the Costas that are going to catch the eye of those pesky comuni inspectors or is it any old ruin farmhouse that is restored to a livable state?

[Marc]

'Bands' in the UK are an assesment of the value of the property. The categories that the article talks about are designations as commercial, residential or agricultural use etc., rather then their value. No indication is given as how properties might be re-assesed for their market value or by whom.

This new law though, could signal a new lease of life for the time-honoured practice of diverting money from maintaining the outside of your house to expensive kitchens, bathrooms and flat-screen tellys, to avoid the attention of the tax man!

[alan h]

I re-vamped my place 2 years ago [new bathroom, kitchen, central heating and re-wiring] - got a revaluation sent to me towards the end of last year [up about 40%] - could appeal, but advised it would be a waste of time

[Sebastiano]

Originally Posted by manopello

It would be good if someone could list the catergories for properties in Italy or bands as they are called in the UK.

The idea of an old farmhouse being relisted as a villa made me chuckle.Is it just those places that have been 'revamped' to look like an East Ender's holiday home on the Costas that are going to catch the eye of those pesky comuni inspectors or is it any old ruin farmhouse that is restored to a livable state?

Here you are manopello the "bands"
A/1 - SIGNORILE.
A/2 - CIVILE
A/3 - ECONOMICO
A/4 - POPOLARE
A/5 - ULTRAPOPOLARE
A/6 - RURALE
A/7 - ABITAZIONI IN VILLINI
A/8 - ABITAZIONI IN VILLE
A/9 - CASTELLI/ PALAZZI DI PREGI ARTISTICI-STORICI
A/10 - UFFICI STUDI PRIVATI
A/11 - ABITAZIONI ED ALLOGGI TIPICI DEI LUOGHI.
These do not have fixed "tariffs" these will be calculated in the different regions and localities accordingly.One thing is true here in the Marche in our area MOST of the old farmhouses will be classified as villas or signorile.This in the case of say the usual 200-300 sq. metre property completely renovated with all new fixtures fittings plumbing heating pool outside etc etc they will even if they have or still have rural status be reclassified and charged accordingly.This ,here is already starting in some comuni in this area and in answer to someone who asked what will happen to the elderly etc i know of one who's going to have to sell as he's no longer farming and the comune want to reclass his house even though it's not even been restored! this is what happens when people vote for bands of comunists!

[luluprimavera]

Originally Posted by Sebastiano

Here you are manopello the "bands"
A/1 - SIGNORILE.
A/2 - CIVILE
A/3 - ECONOMICO
A/4 - POPOLARE
A/5 - ULTRAPOPOLARE
A/6 - RURALE
A/7 - ABITAZIONI IN VILLINI
A/8 - ABITAZIONI IN VILLE
A/9 - CASTELLI/ PALAZZI DI PREGI ARTISTICI-STORICI
A/10 - UFFICI STUDI PRIVATI
A/11 - ABITAZIONI ED ALLOGGI TIPICI DEI LUOGHI.
These do not have fixed "tariffs" these will be calculated in the different regions and localities accordingly.One thing is true here in the Marche in our area MOST of the old farmhouses will be classified as villas or signorile.This in the case of say the usual 200-300 sq. metre property completely renovated with all new fixtures fittings plumbing heating pool outside etc etc they will even if they have or still have rural status be reclassified and charged accordingly.This ,here is already starting in some comuni in this area and in answer to someone who asked what will happen to the elderly etc i know of one who's going to have to sell as he's no longer farming and the comune want to reclass his house even though it's not even been restored! this is what happens when people vote for bands of comunists!

Lets hope a new government gets in soon. Perhaps one that doesn't get rid of his assets before coming to power in order to allow him to change the laws!!