How to lower your purchase taxes using the Prima Casa (First Home) law
Thinking about buying a house in Tuscany? How to lower your purchase taxes using the Prima Casa (First Home) law—even if you don’t plan to live there forever!
Buying with the prima casa facilities, instead of paying the standard 9% registration tax, you only pay 2%.
TIC TAC:
To get this discount, you must legally register your residency in that town within 18 months of buying.
Italian courts have confirmed there is no minimum time you have to keep your residency there. Once it’s approved, you can legally move your residency somewhere else or even back to your home country.
VERY IMPORTANT!
- The moment you move your residency out, the house becomes a “second home” and you start paying IMU (annual municipal property tax).
- If you sell the house in less than 5 years, you’ll have to pay back the tax discount plus a 26% capital gains tax (unless you buy another Italian home within a year).
