ABC do IMI

April is the month of IMI payment. However, there are several alternatives to the value of the final tax to be paid, whether it is in agreement with the amounts, whether it is consonant or a family addition, whether it is still taking a vast set of isenções on the accounting line. See here the Gerais lines of this Municipal Impost on the Imóveis.

1. The IMI is paid in April but it can be paid in benefits

The IMI payment is made in April. If the tax is to be paid for at 250 euros, the value must be paid in full at the end of the next month. On the other hand, if the value to be liquidated is between 250 and 500 euros, the payment can be made in two services, in April and in November. If the value exceeds 500 euros, the payment may be made in three phases, in the months of April, July and November.

Remember that the IMI is a municipal tax that affects the Tributary Patrimonial Value (VPT) of two properties (rural, urban or mixed) located in Portugal. It entered into force in 2003 and underwent changes in 2017 with the creation of the Additional Tax on IMI (AIMI).

2. Do you know how much IMI will pay?

The IMI tax to pay can be consulted in the tab "Taxas do Município" of the Portal das Finanças.

The process is simple. Choose the year, in this case 2017, and select the district. The list of municipalities and the respective tax applied will then appear. Information related to the “discount per child” will still be disclosed, a tax benefit of local authorities that gives a discount of 20, 40 or 70 euros depending on the number of children of the families. If the municipality does not appear on the list of the Portal das Finanças, then it will be applied to a minimum IMI tax (0.3 percent).

3. Family IMI with strong attachment

The addition to the family IMI also grew again. Of course, it has existed since 2016, but this year the numbers beat new records. There are only 232 local authorities that will give this tax benefit, which gives a discount of 20, 40 or 70 euros, depending on the number of children of the families. The municipalities that have more families with dependents to reside are Lisbon, Amadora, Loures, Oeiras, Cascais and Braga, being that all of them will grant this benefit to the owners.

4. What isenções are foreseen in the law?

According to the consultant Ernest&Young (quoted by Jornal Económico), there are no cases to be presented.

Urban land intended for habitation

These are the properties or part of urban housing properties built, expanded, improved or acquired for consideration, intended for the own and permanent habitation of the taxpayer or his family aggregate, with a VPT not exceeding 125,000 euros and whose yield of the aggregate is not greater than 153,300 euros.

We also present the properties or part of the properties built anew, enlarged, improved or acquired for consideration, when it is the first transfer, in the part intended for rental for habitation, beginning the period of issuance from the date of the celebration of the first lease.

Aggregates with low yields

This issuance is applicable to rural properties and to the property or part of the urban property intended for the own and permanent habitation of the taxpayer or his family member. Those who receive less than 15,295 euros per year do not pay IMI. However, the issuance is only attributed if the assets of the aggregate are not valued at more than 66,500 euros (10 times the annual value of the Indexante dos Apoios Sociais (IAS)).

Urban rehabilitation projects

Also, urban properties or autonomous communities concluded more than 30 years ago or located in areas of urban rehabilitation benefit from incentives, as well as companies that carry out investments considered relevant. In this case, they can benefit from the issuance or reduction of IMI, for a period of up to 10 years, relative to the properties that are their property and that constitute relevant applications.

Lojas with history

Are still object of isenção, the properties or part of properties related to lojas with history, recognized by the municipality as establishments of local historical and cultural or social interest and that integrate the national inventory of two establishments and entities of local historical and cultural or social interest.