Prima Casa Tax Benefit: Who Qualifies and What You Get
Learn how first-time homebuyers in Italy can significantly reduce their registration and mortgage taxes when purchasing a new home.
The Prima Casa Tax Benefit is a government incentive designed to lower the tax burden for people purchasing their first home in Italy.
Who it's for
This benefit is available to first-time buyers who are under the age of 36. You may also qualify if you meet specific residency requirements.
What you get
If you qualify, you will pay a much lower registration tax on your property purchase. Instead of the standard rate, you will pay a reduced rate of 2%. Additionally, you will benefit from fixed rates on your mortgage and cadastral taxes.
What it costs you
To keep the benefit, you must establish your residency in the municipality where the property is located within 18 months of the purchase.
The catch to know
You must be careful if you decide to move. If you sell the property within five years without purchasing another home, you may lose the benefit.
How to apply
- Confirm you meet the age or residency requirements.
- Consult with your notary or real estate professional during the purchase process.
- Ensure you register your residency in the local municipality shortly after moving in.