Economy

Italy trying to update its land registry

In Italy, you will pay real estate taxes on the basis of the value attributed to your property by the Land Registry the data of which, however, have not been updated for decades: this means that some owners pay too much, other pay too little.

For years, successive Italian Governments have been trying to update the data but the operation is proving difficult just like any other administrative proceeding in Italy.

The Land Registry offices were instructed to update the data on the basis of the trade prices of the last three years. However, during the last years the crisis drastically froze the Italian real estate market, and in many small Italian Municipalities there are simply not enough transactions to create a solid statistical sample.

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