Stay informed: IMI first instalment is due in May!

Owners of real estate property located in Portugal are liable for the annual payment of the Local Property Tax (Imposto Municipal sobre Imóveis – IMI), which is determined based on the taxable value of urban, rural and commercial properties in Portugal.

The IMI rates for urban properties are calculated based on a range between 0.30% and 0.45% of the tax value, while the rate of 0,8% is applied to rural properties. Additionally, properties owned by residents in blacklisted jurisdictions are subject to a special aggravated rate of 7.5%.

The payment schedule for IMI is as follows:

• In one instalment, in the month of May, when the amount is equal to or less than €100,00
• In two instalments, in the months of May and November, when the amount exceeds €100,00 and €500,00 or less;
• In three instalments, in the months of May, August and November, when the amount is over €500,00

Exemptions apply to urban properties that are considered a permanent place of residence, namely, if the property's tax value is under €125.000,00 and the total gross income of the household in the previous year is below €153.300,00, IMI is exempt for a maximum period of three years from the date of acquisition.