Real Estate Taxes

Real Estate Tax (IMI)

Properties built, expanded, refurbished or acquired, intended for residential purposes

The IMI exemption for properties built, expanded, refurbished, or acquired, when allocated to residential letting, applies only when the letting is for the tenant's permanent dwelling.

“The IMI exemption for properties built, expanded, refurbished, or acquired, when allocated to residential letting, applies only when the letting is for the tenant's permanent dwelling.”

Residential leases concluded before the Urban Lease Regime

An IMI exemption will be provided for properties with residential lease agreements concluded before the Urban Lease Regime in case of tenants with an adjusted gross annual income (RABC) of less than five national minimum annual salaries (RMNA) or aged 65, or over, or disabled with a degree of incapacity equal to or greater than 60%.

The IMI exemption is granted during the period of the lease agreement.

Real Estate Transfer Tax (IMT)

Assessment of the IMT on the transfer of residential urban property

There is an update by 5% of the brackets for assessment of the IMT rate applicable to the transfer of urban property, or building units in urban property, exclusively for residential use.

As a result of this amendment, IMT is only due in the case of an acquisition of an urban property or building unit in an urban property, exclusively for permanent residential use, if the taxable basis exceeds EUR 101,917 (currently, EUR 97,064).
 

Contact us

Rosa Areias

Rosa Areias

Tax Lead Partner | Entrepreneurial & Private Business Leader | Membro da Comissão Executiva, PwC Portugal

Tel: +351 225 433 101

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