The deadline is 31 August and applies to those who must pay a Municipal Property Tax (IMI) above €500 and did not pay the full amount to the Tax and Customs Authority with the first instalment in May.

The IMI Code provides different payment deadlines, depending on the annual amount of tax to be paid to the State. If the IMI is not greater than €100, it is paid in a single instalment in May each year.

If the amount is greater than €100 but less than €500, it is divided into two instalments: the first is paid in May and the second in November (in these cases, August is not a payment month).

If the IMI (Property Tax) amount is greater than €500, the total is divided into three instalments, one to be paid in May, another in August, and another in November.

The IMI is levied on the market value of properties, with a single rate of 0.8% for rural properties (land) and a rate that varies between 0.3% and 0.45% for urban buildings (constructions and land for construction).

Although the Tax and Customs Authority (AT) calculates and collects the tax, the IMI (Municipal Property Tax) rates applied in each municipality are set by the city halls within these ranges.

Vacant buildings unoccupied for more than a year or in ruins located in areas of urban pressure are subject to a higher IMI rate. In these situations, the rate is increased tenfold (10 times the normal rate).

For example, if the regular IMI (Property Tax) is 0.4%, it is subject to a 4% tax rate.

According to the IMI Code, if the property remains unoccupied, this rate is in turn "increased, in each subsequent year, by another 20%". In this example, the rate goes to 4.60% in the second year and to 5.76% in the third.

Those with children up to 25 years old benefit from a reduction in IMI through the tax benefit known as "family IMI", if the municipality has decided to adhere to this incentive. The incentive varies depending on the number of children, through a fixed reduction of the IMI payable.

A taxpayer with one child benefits from a fixed discount of €30, those with two children have a reduction of €70, and those with three or more dependents benefit from a cut of €140.

According to the National Tax Code, the tax authorities apply the reduction automatically and, based on the taxpayer registry and the information provided in the income tax return, verify whether a family meets the requirements to receive the discount.