Anyone who wants to buy a property must always consider the sales taxes. In fact, it is not the same to buy a first home or a second one. Let's see what are the taxes and duties, but also the concessions on the purchase of a first home, both in the case of buying from a private individual or from a construction company
In the case of the purchase of a first home it must be considered that it is possible to take advantage of the so-called first home concessions, which allow a considerable discount whether it is a purchase from a private person, therefore subject to registration tax, or purchase from a construction company and therefore is subject to VAT. Not to mention the special first home discounts introduced for under 36s
Purchase of a first home as a private individual: taxes and concessions
In the case of the purchase of a first home from a private individual (or a company that sells VAT exempt), the following taxes and concessions are:
Proportional registration tax in the measure of 2% (instead of 9%)
Fixed mortgage tax (50 euros)
Fixed cadastral tax (50 euros)
The same reduced taxes are applied to the appurtenances even if purchased with a deed of sale separate from that of the first home.
First home purchase from builder: taxes and concessions
If you buy a first home from a builder, the sale is subject to VAT. The subsidized taxes to be paid will be the following
VAT reduced to 4%
fixed registration tax of 200 euros
fixed mortgage tax of 200 euros
fixed cadastral tax of 200 euros
Under 36 first home purchase benefits
Throughout 2021 and with the extension of the 2022 budget law also for next year, it will be possible to take advantage of tax concessions for the purchase of a first home for young people under 36.
In particular, young people under 36 who buy a house used as a main residence with an Isee of less than 40 thousand euros are entitled
exemption from registration tax
mortgage and cadastral tax exemption
These exemptions are recognized in the event of a purchase between individuals at the time of the deed.
In case of purchase from a construction company, 4% VAT will be paid, but you will be entitled to a tax credit of the same amount to be deducted in the tax return, or to be used to pay other taxes on subsequent deeds.
At the time of the deed, the registration, mortgage and cadastral tax will not be paid.
Tax base for the first home purchase tax
Even when you buy with the "first home" benefits, if the sale is subject to VAT, the tax base on which to calculate the value added tax (4%) is the sale price, while the registration and mortgage taxes and cadastral are paid on a fixed basis (200 euros each).
For the sale of residential properties (and related appurtenances), in the presence of certain conditions and specific subjective and objective requirements, the law provides for a particular mechanism to determine the tax base: the so-called: price-value system
The price-value mechanism is applied, for sales not subject to VAT, even when purchasing with "first home" benefits. In this case, the cadastral value is determined by multiplying the cadastral income (revalued by 5%) by the coefficient 110.