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Here’s how to calculate and pay the second installment of the IMU that is due tomorrow, December 16, 2020.
Tomorrow, December 16, the last tranche of the Imu 2020 expires. The exemptions and exemptions that are so much talked about now do not concern the families who have to go to the cashier for the second installment of the Municipal Tax. What’s new this year is that the other real estate tax, the Tasi, has been canceled and has now been incorporated by the IMU.
This is a fundamental step because in fact the city councils can adjust the rates to compensate the loss of income derived from the cancellation of the Tasi. In light of these innovations, it is necessary to understand how to calculate the Imu, especially the balance for 2020 which, among other things, runs the risk of not closing the payment season definitively, with an adjustment that for many families could reach the end of February.
Imu, the 2020 balance sheet and news
As anticipated, the City Councils may have decided to increase the Imu 2020 rates to cover the losses derived from the cancellation of the Tasi. For this reason, especially for those who calculate the Imu independently, it is necessary to verify whether the Municipality in which the property for which the Imu is owed is located has already approved. The government for the Covid emergency has given more time to the Municipalities to communicate the decisions on the IMU rates applied for 2020. The risk is that after the June deposit, it will be paid as usual, with provisional rates identical to those of the the previous year the same also happened with the balance. Therefore, there is already the fear of a new appointment in the box for families, with an adjustment until February 28, 2021 due to the resolutions of the local authorities that would reach the payment already owed.
Imu balance 2021, here is how to calculate it
The payment of the second IMU installment must be made before December 16, 2020, because from the next day the tax with the amendment must be recalculated. There are numerous online programs that allow you to calculate the tax, and many of them also allow you to calculate the excess for late payments.
The Ministry of Economy and Finance, to allow taxpayers to pay regularly, has produced some clarifying notes, including those that explain in detail how to calculate the Imu.
In the first place, the Mef stressed that if the resolution of the city council was not published before last November 16, the reference rates are precisely those prior to that date. A clarification regarding the longer time granted to municipalities to adopt the new IMU regulations with the final rates.
For the advance in June, after the launch of the new IMU to replace the Tasi, which occurred with the Budget Law of last year, it was established that the advance should be paid in an amount equivalent to 50% of the amount paid in 2019 by IMU. and Tasi as a whole, both for the advance of 2019 and for the balance of 2019. The facilitated operation can also be reproduced for the balance, but only if your municipality has taken advantage of the extension of the resolutions granted by the government, which postponed the term . from October to December 31. If, on the contrary, the Municipality has already deliberated before November 16, the rates provided must be used. In this case, the balance will actually be at the end of the Imu 2020 season, because using the new rates protects from the February 2021 adjustment to which taxpayers from Municipalities that do not rush to regulate the IMU could be called upon.
To calculate the Imu it is necessary to first know the cadastral income of the property subject to tax. The cadastral income is found in the cadastral surveys. In addition to the annuity, it is necessary to know the relative coefficient based on the property’s cadastral category and then, as mentioned, the applicable rate based on the resolutions of the Municipalities. Depending on the cadastral category of the property, a different coefficient is applied. The category is also easily detectable from cadastral surveys.
For properties of category A (all, from A1 to A11 excluding A / 10) the coefficient is 160. For those of category A10 (luxury houses), the coefficient is 80. For properties of categories B1 to B8 , the coefficient is 140.
Coefficient 55 for properties of category C / 1 and 160 for properties of category C / 2, C / 6, C7. In contrast, the coefficient for the properties C / 3, C / 4, C / 5 is 140. From D / 1 to D / 10 (excluding D / 5), the coefficient is 65.
Once the coefficient has been defined and the tax rate set by the municipality has been found, the tax must be calculated. The cadastral income resulting from the survey must be revalued by 5%. The result is multiplied by the reference coefficient. After completing these steps, the result must be multiplied by the Imu rate.
An example will clarify everything better. Category A / 1 property, cadastral income 300 euros and City Hall rate 8 per thousand. The cadastral income must be revalued by 5% and therefore goes from 300 to 315. The coefficient is 160 and therefore you have to multiply 315 by 160 and it reaches 50,400. To know the IMU to pay, it is necessary to multiply 50,400 by the expected rate, which in our example is 8 per thousand. In practice, the Imu owed is equal to 403.20 euros. This is the total Imu for 2020, because the balance needs to be halved if half was paid in June. In the event that the rate is different for the June deposit, the difference between the Imu of the calculation explained above and the amount paid on account must be paid.
Naturally, attention must be paid to the resolutions of the Municipalities also from the point of view of the exemptions or deductions that are usually included in the deeds for specific types of taxpayers or properties.
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