Property taxes
ICI (Local Tax)
This is the main local property tax affecting owners of properties in Italy . The amount of the tax is calculated by reference to the "rendita catastale" (official value of the property) registered in respect of all properties in Italy . The official values were, until recently, very very low. They are now rapidly rising, pursuant to a policy of the Italian Government that will result in the official values approaching the real value of the property. In general terms, local taxes will cost less than taxes on a similar property in the UK , and will usually be between 0.4% - 0.9% of the estimated value of the property fixed by government tables.