The Italian Inventory of Real Property Authority reclassifies the value of estates

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In these last days of 2013, the Italian Uffici del Territorio dell’Agenzia delle Entrate (Real Estate division of the Inland Revenues) are performing a mass operation of reclassification of real estate values, in order to reconcile the (alleged) market value of estates to the nominal value they have for administrative purposes. (for an opinion on this matter see this article by Giuseppe Marino –>here)

Unfortunately, the operation is conducted in automatic mode. This implies that all notices of reclassification served in these days have practically the same declared motives and therefore… are potentially void.

In fact, the automatic reclassification is based only on a presumptive value. The Corte di Cassazione, on the other hand, in its decision n. 22557/2008, has clearly ruled in favour of the existence of a right of the taxpayer to receive a classification of his real estate that really reflects its value (even if lower than expected), so that he’s always allowed to prove that the value given is wrong.

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