Casambiente: Real Estate Agency in Italy - Property Purchasing Information

AFTER PURCHASING YOUR NEW HOME ...

... you will still need to deal with a few more issues and costs, sometimes associated with the typical bureaucratic procedures well-known here. In order to facilitate as much as possible and leave the pleasure of your new home unspoilt, we have compiled some information on the most important issues:

TAXES:
In order to correctly compute all taxes relating to real estate, we generally recommend the consultation of a tax advisor.

Municipal Real Estate Tax or I.C.I ("Imposta Communale Immobili"):
The ICI is an annual property tax with the rate set individually by the municipality. It ranges between 0,4% and 0,7% of the cadastral value of the property and is payable in two instalments annually (June and December). In many municipalities, the so-called CAAF ("Centro Autorizzato di Assistenza Fiscale") will assist you free of charge and without bureaucracy in working out the level of your I.C.I. These local municipal taxes are generally low in comparison to many other Western countries.

Capital Gains Tax:
Capital gains tax is payable on the profits derived from property sales, if the property was held for less than 5 years. This tax rate has, as of 2006, been reduced to 12.5 % for individuals.

OTHER EXPENSES:

Electricity Supply ("ENEL"):
A completely new supply contract for 3 kilowatt electricity will cost you a one-off payment of about €500.00 , whereas the change of an existing contract (if assumed from the previous owner) to your name is currently charged at a rate of approx. €85. More info: www.enel.it

Telephone:
The telephone connection and monthly cover charges are centrally billed by Telecom Italia. Fees for analogue, ISDN or broadband (DSL) lines vary according to line type and service provider. As a rough estimate, an ISDN land line will entail the following fees (VAT included): Initial installation €150,00 and a monthly cover charge of currently €24,00 in addition to individual call billing. More Info: www.187.it

Water:
Prices vary between differing municipalities and type of connection. As an estimate, prices per cubic meter range between €0.40 and €0.70. Where natural water is available, the drilling of a well may be a worthwhile alternative.

Waste Water:
Typically, in the case of country houses, waste water is not cleared into a public sewerage system but rather drained into a septic tank connected to a natural drainage system. Depending on type of septic system and usage the expenses for pumping out the system will amount to about €400.00 every two to three years.

Waste Removal ("Rifiuti Solidi Urbani"):
The fees for local waste collection are determined by the size of the building , the number of inhabitants and the type usage (e.g. commercial vs. private) and vary according to municipality. Especially in rural areas, garbage and waste is not collected at the premises and must be transported to public waste containers that normally are within easy reach.

Gas Supply:
If you are connected to the public gas network, gas prices will vary in price depending on your location and municipality and may range between €0.50 and €1.40 per cubic meter. It may be smart to install your own gas tank and obtain gas from the cheapest private supplier.

Insurance:
Building or fire insurance is not obligatory in Italy unless you intend to finance the property by means of a mortgage (also see "Financing"). Should this be the case, we are happy to provide information on insurance agencies in your vicinity.

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