Spain 
Italy 
Greece 
Tax Benefits Encourage Urban Rehabilitation of Torrão
27 December 2017
The last session of the Municipal Assembly of the Alcácer do Sal Municipal Council approved the boundaries of the Torrão Urban Rehabilitation Area (ARU).
The ARU covers the full extent of the 39.49 hectares of the village from its oldest nucleus to the surrounding areas of more recent construction and aims to “reverse the degradation of the village’s buildings and promote its economic and social revitalisation.”
According to Vítor Proença, mayor of Alcácer do Sal, “this line of action aims to stimulate the urban rehabilitation of Torrão, encouraging the participation of property owners in the process through a series of applicable tax benefits. Among them, are an exemption from municipal taxes for licensing, prior notification and the authorisation of urban operations, license fees, the occupation of public domain and the performance of surveys. ”
To the previous incentives, the council also added a 50% reduction in the fee for urban infrastructure operations where applicable, an exemption from IMI for five years for urban buildings and an exemption from IMT for the acquisition of buildings for urban rehabilitation. Finally, the council also included benefits at the level of VAT and IRC, contemplated in the Statute of Tax Benefits.
Story: Construír
Original Translation: Richard Turner