Taxes are due beginning at the following times:
— the year in which the section of the territory is classified as a property;
— the year following that in which exemption expires, unless the taxpayer, while benefitting from exemption, purchases a new permanent primary residence and retains the right of ownership of the exempt property (in this case, IMI is due in the year in which the property was vacated by its respective owner);
— the year of completion of construction works, improvements or other modifications resulting in an adjustment to the taxable assessed value;
— the fourth year following that in which land for construction becomes the asset of a construction company involved in the resale of buildings;
— the third year following that in which a property becomes a current asset of a company involved in the resale of buildings.
An urban property is considered complete beginning at the following times:
— granting of city permit, when applicable;
— declaration to record in urban land registry, with work completion date;
— use, on a non-provisional basis;
— ability to use normally for intended purposes.
For a property becoming a current asset of a company wishing to sell it, the tax is due beginning in the year in which the sale is deferred for reasons attributable to the taxpayer.
Taxpayers who have purchased the property from an entity who has already benefitted from it are not included.