The Additional IMI (AIMI) applies to those who own a large amount of real estate.
The Additional Municipal Property Tax (AIMI) is a relatively recent tax. It came into use in 2017 to replace Stamp Duty, which taxed, on an individual basis, properties over one million euros.
AIMI is levied on the real estate assets of individuals and companies. It covers residential buildings, land for construction and undivided estates, that is, which have not yet been divided among the heirs.
To rule out that the estate is equivalent to a legal person, the head of the estate must submit a statement identifying the heirs and their respective shares between March 1 and March 31.
The fact that an undivided estate is not equivalent to a legal person means that each heir's share of the value of the building or buildings comprising the undivided estate is added to the sum of the taxable net worth of the buildings listed in the land registry belonging to that heir in order to determine the taxable value for the purposes of AIMI.
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