Not the best place to live right now, due to Ravenna. Otherwise, it would be okay, if you like living off the land and whatnot.
Current year 1483.
About the same as in the late middle ages/the renaissance.
Same as ours, except where magic breaks these boundaries
There are two: elemental and "standard". Elemental magic can only be wielded by the elemental of that element, e.g. the fire elemental can wield fire, water elemental water, and so forth. There are 7 elements in total, with four being the most common: fire, air, earth, and water. The other three elements are light, magic, and shadow. There is only one elemental of each element at a time.
"Standard" magic is just that. Standard magic. Witches, wizards, sorcerers and sorceresses, shamans, magicians. It can involve potions, spells, anything and everything, and is a very versatile thing. The only thing you can't harness with standard magic? A pure element. Only those of elemental magic can harness the pure element, creating and commanding it, and then only one element.