Have you laid eyes on a historic building? It is not only a unique opportunity to own a piece of history, but also an opportunity to immerse yourself in the atmosphere of bygone eras. The purchase, however, requires some special considerations. These properties are indeed protected. This allows to preserve its historical and architectural integrity. In Italy, there are many villas and buildings of historical interest. These buildings represent the rich cultural heritage of the region.
The monumental bond
Historic buildings must be protected at all costs. To ensure its preservation, a special protection measure is applied. In this case we speak of a monumental bond. The latter includes specific restrictions and regulations imposed by the state. In other cases, by local authorities or cultural heritage protection bodies. The monumental link concerns not only the building in question but also the surrounding land, including gardens and parks. Among the restrictions are restoration work. They are also subject to renovations and architectural changes. Everything must be carried out in accordance with the original characteristics.
The link can be direct or indirect. The first one concerns the real estate itself. The second, a property that is located in the vicinity of monumental assets. The objective of the latter is therefore to safeguard the context.
Taxation on historic and artistic buildings
The preservation of historic and artistic buildings is essential. It can thus preserve the historical memory and identity of a community. These buildings bear witness to the architectural, artistic and social evolution of an era. They also attract tourists from all over the world, contributing to the local economy. For these reasons, a special tax is provided to finance the maintenance and upkeep of such buildings.
The tax is applied to owners of buildings of historical and artistic interest, whether they are individuals or companies and entities. In the first case, if used as your own home, they are exempt from IRPEF and additional taxes. If rented, instead, a flat-rate deduction of 35% is applied to the rent. The IRPEF will then be calculated on the basis of this 35% reduction and cadastral rent (revalued in this case to 5%). The same rules apply to real estate owned by companies and rented out for commercial purposes. For the properties of non-commercial entities, on the other hand, a reduction of 50% of the income derived from the estimate rate of the property itself is foreseen.
Historic buildings are an invaluable asset for future generations. However, it is important to understand the monumental link. In addition, the tax on artistic heritage must be taken into account. It is advisable to get the support of professionals in the field. With the right advice, buying a historic property can turn into an excellent investment.
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