Italian Budget 2024: several changes for housing 

The Italian Senate Budget Committee has recently concluded the review of amendments to the 2024 Budget, introducing significant modifications to the Italian real estate landscape, with a focus on taxation, benefits for families, and measures against housing distress. Let's explore the main innovations together. 

Property Tax (IMU): rates and deadlines 

One central aspect of the Budget concerns the Unified Municipal Tax. The deadline for municipalities to publish the rates has been extended to January 15, 2024. In case of a positive difference with the new rates, citizens will have until February 29, 2024, to make the payment. In the case of a negative difference, the schedule for refunds will remain unchanged. 

Short-term rentals and 26% flat tax 

Regarding taxation on short-term rentals, the new Budget introduces an increase in the flat tax for those who rent more than one property for a maximum duration of one month. The flat tax for the primary residence remains at 21%, but it increases to 26% for subsequent rentals in the same year. 

Mortgages and large families 

The committee has approved a guarantee fund for large families with more than three children who apply for a mortgage to buy their first home. These families will receive an 80% guarantee from the government, only if the borrowed amount corresponds to at least 80% of the home's value. The percentage becomes 85% for those with four children and 90% for those with five or more. To qualify, an Equivalent Economic Situation Indicator (ISEE) of €40,000 is required for families with three children, €45,000 for those with four, and €50,000 for those with five or more (in any case, dependent children must be under 21 years old). 

Additionally, the mortgage bonus for individuals under 36 looking to buy their first home has been confirmed. They can receive an 80% loan guarantee with an ISEE below €40,000. 

Housing distress 

Another significant development is the allocation of €100 million to combat housing distress and promote experimental models of public residential construction. 

110% superbonus 

The 2024 Budget does not provide extensions for the much-debated 110% Superbonus. No exceptions will be granted even for those who have already started or are nearing completion of the works. The Superbonus rate, which was 90% in 2023, will decrease to 70% in 2024, and further to 65% in 2025, indicating a progressive reduction. 

Building bonuses 

The Eco-bonus, which reimburses between 50% and 65% with a maximum expenditure cap of €40,000, remains in effect. Meanwhile, the bonus for the purchase of furniture and appliances in the context of home renovation, with a maximum deduction of 50%, decreases from €8,000 to €5,000.