IMI Tax Payments Begin in May

1 May 2019Richard D. K. Turner

Payments began last week on nearly four million IMI tax notices issued this year by Portugal’s tax authorities. Property owners have the option of paying the full amount or paying in two to three instalments, depending on the amount to be paid. The first falls due this month. According to the Tax and Customs Authority, 24% of property owners will pay the full amount, since their payment is less than 100 euros. Another 58% of all tax charges are for between 100 and 500 euros.

Individual municipalities may set their urban IMI rates in a range from 0.3% to 0.45%. However, buildings that have been left vacant for more than a year, or are in ruins, may be charged an aggravated rate of three times the set charge.

Original Story: Economia Online / Lusa