Hello!  I wanted to get an idea on

04/05/2016 - 08:19

Hello!  I wanted to get an idea on what the difference is in owning property in Italy compared to the States. What kind of property laws/taxes are over there that may be different from ours?  We're specifically looking in the Lake Como area and just kind of toying with the idea but really have no idea how what their property taxes are like.  Anybody from the States who owns property in Italy out there able to help with some info?  Thanks!  

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Annual Property taxes are much lower in Italy than in the States, but the taxes payable on purchase are higher - but they are a one-off charge.    As Gaia says things change alot if you are planning to live here full time, or whether its a holiday home.   Rubbish collection is calculated on your square footage, so the bigger the house the more you pay.  Your other taxes are payable on the rateable value of the property.   Utilities -electricty and water are not cheap.  Gas is not widely available.  

Thanks for that!  That was also another question of mine - utilities.  It would be a holiday apartment/flat, maybe with potential to rent out during the busy season.  That's down the road though.  Our water in the suburb of Detroit is about $200 every 3 months and electrical is probably about $150 each month for a 1,000 sq foot single family home.  In comparison to that, what are we looking at roughly?  The apartment is about 75-80 meters sq.  Thank you so for your reply! 

Oh no I meant given that in the north the heating must stay on quite a lot more compared to warmer southern regions it will mean more money, I think it may vary slightly in prices but not that much, there's this supposed mercato libero 'free market' which is fuelling a lot of competition amongst gas/energy providers so prices should stay somehow competitive, hopefully.

Property tax, or IMU in Italy is very low compared to prop tax in most US states.  Expect to pay a few hundred euro per year, depending on what value of your property and the comune you live in.  Utilities are high, but the climate is mild, so you don't use much, at least in many area, including Como.  Gas is expensive to heat with, so most Italians (and thrifty expats) heat with wood or pellets.  Good luck and ciao, Tom