Desenzano Offers Cooperative Housing Owners a Double Gift of Property Rights
Desenzano: a Double Gift to Cooperative Housing Owners
Desenzano will be the first municipality in Italy to offer a double gift to cooperative housing owners. Thanks to a law enacted two years ago by the State, it is now possible to convert the surface rights of apartments purchased through cooperatives into full property rights, alongside the simultaneous removal of restrictions on the ownership areas.
And now, in Desenzano, this measure has become a reality: the City Council chaired by Mayor Cino Anelli approved it the day before yesterday.
While at least 1,050 Desenzano households will benefit and smile, the municipality itself isn’t losing out. According to a very rough estimate, this operation could bring in at least 16 billion euros into the municipal treasury.
These funds could be invested in public works, as they would be earmarked for investments benefiting the community. This will enable the municipality to avoid asking taxpayers for additional taxes or levies.
Previous Situation and New Opportunities
But let’s take a closer look at what this is all about. Previously, those holding surface rights (with the well-known 99-year limit) would lose ownership at the end of the term, in favor of the municipality.
Furthermore, those exercising full ownership rights could not sell the property before 20 years, and the sale was subject to VAT, registration tax, and Invim; all calculated on the difference between the purchase and sale values.
On average, this would require paying between 150 and 200 million euros.
Changes Introduced by the New Measure
With the municipal administration’s new measure, this situation now changes: a property can be “sold before the 20-year period only to buyers who meet certain requirements, and in any case, the municipality will retain the pre-emption right.
Additional advantages include the elimination of the specific tax restrictions under law 167. After 20 years, the apartment re-enters the free market.
Interventions and Implementation Methods
Now, as remembered by the mayor, who, along with assessors Orlando Farinelli and Mario Marchioni, presented the initiative (the only one of its kind in Italy so far), the municipality will contact each affected family to make a proposal.
Families will be asked to pay an average of 15-16 million euros to the municipality, which has also planned significant concessions, offering installment payment options.
Furthermore, agreements will be established with local notaries to obtain reductions on the notarization fees required for the deed.
Origins and Involved Properties
The initiative became possible thanks to the extensive review conducted by the Private Building Office (led by Vincenzo Bettinzana), and subsequently also by the Tax and Accounting Office.
“It’s a political choice,” said a jubilant Cino Anelli, “which we had to make to meet the aspirations and needs of many families.
Now, anyone who wishes will be able to pass their house on to children and grandchildren, or heirs, with manageable costs and installment payments.”
The affected properties are located in Via Togliatti, Via Allende, Via Anselmi, Via Durighello, Via Pratomaggiore, Via Giovanni XXIII, S. Martino della Battaglia, Padre Marcolini, Bevilacqua, Marzabotto, Rimembranze, Montesuello, Vicina, El Alamein, and Albinoni.
Specifically, these are lots 2 and 3 of the first Peep, 6, 7, 8, and 9 of the second, and 5, 10, 11, 12, and 7 — the expansion of the third.