Current legislation determines that whenever a taxpayer has an IMI value greater than 100 euros, but less than 500 euros, this is automatically split into two instalments or three instalments when it exceeds 500 euros, these being paid in May and November or in May, August and November, respectively.

According to AT data this year, 4,082,440 IMI settlements were issued, 916,359 of which were worth up to 100 euros. That universe includes 2,486,548 with tax values between 100 and 500 euros and 679,533 above 500 euros.

The same information shows that this year there were 556,011 taxpayers who made the advance payment of IMI for 2023, that is, who used the reference included in the May settlement note to pay the tax in full.

IMI rates are set annually by municipalities between a minimum value of 0.3% and a maximum of 0.45%, with increased rates being foreseen for vacant or dilapidated properties. The IMI is calculated based on the tax asset value (VPT) shown in the matrices on December 31st of the year to which the tax relates.