The time has come to pay - or start paying - the Municipal Property Tax (IMI), and the tax assessment slips have already started arriving in the hands (or mailboxes) of homeowners. But not all taxpayers have to pay, as they are exempt.
Let's start by remembering that IMI is an annual tax that is levied on the Taxable Asset Value (VPT) of properties owned in the previous year. Therefore, the amount to be paid by taxpayers in 2025 refers to properties owned on December 31, 2024.
The IMI payable results from the application of a rate on the VPT of buildings, whether rustic or urban. IMI rates are set annually by each municipality and vary between 0.3% and 0.45% for urban properties and 0.8% for rural properties.
Owners, usufructuaries or superficiaries of buildings on December 31st of the year to which the tax relates are subject to IMI.
It is possible to be exempt from paying IMI, and there are two types of exemption:
- Permanent - aimed at lower-income households;
- Temporary - a three-year exemption aimed at those buying a new property.
Both the permanent and temporary exemptions apply only to properties intended for permanent residence. In other words, properties that are the fiscal address (place of habitual residence) of the owners.
The permanent IMI exemption is automatic. The Tax Authority uses the information available to it (such as the household's tax return) and applies it to owners whose household has:
A gross annual income of up to 2.3 times the annual value of the Social Support Index (IAS). In 2025, this limit is 16,398.17 euros (16,824.50 euros for the 2025 IMI, to be collected in 2026), i.e. 2.3 x 480.43 euros x 14 months);
And the overall VPT of the household's properties cannot exceed 10 times the annual value of the IAS, i.e. 73,150 euros.
Consult UrbiSeg Imobiliária for any further information.
Source: https://www.idealista.pt