Spain 
Italy 
Greece 
IMI Receipts Skyrocket 74% in Ten Years
21 August 2017
Despite the upward trend, the municipalities’ tax receipts registered a slight decrease last year in relation to the year before.
Between 2006 and 2016, Municipal Property Tax (IMI) receipts soared 73.8% to 632 million euros. Despite the upward trend, the tax charged by municipalities to taxpayers registered a slight decrease last year in relation to the previous year.
According to the newspaper Correio da Manhã, last year about 1.48 billion euros in IMI were collected, compared to 1.53 billion euros in 2015. That is a decrease of 2.9%. The justification for this decrease is an increase in owners’ requests for revisions to the value of the tax, reductions in the rates charged by different municipalities and the reduction of rates related to family households.
Lisbon, Cascais and Sintra lead the list of municipalities with the highest IMI receipts collected during the past year. The 2016 Municipalities Financial Yearbook also shows that 264 municipalities did not reduce IMI rates. Of these, 223, however, showed a decrease in the amount charged.
Original Story: O Jornal Econômico – Joana Almeida
Translation: Richard Turner