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Council Tax (“IMI”)
Who is IMI exempt?
Most of the Portuguese government entities are IMI exempt.
All residents who purchase an urban property in Portugal for main residency purposes, would be IMI exempted according to the terms in the following table:
| Property Rateable Value | Exemption period (years) |
|---|---|
| 0 - 157.500,00 | 8 |
| 157.500,00 - 236.250,00 | 4 |
The exemption will be also applicable, for property improvements, alterations and extensions. However, it can only be recognized twice per taxpayer or family unit.
The exemption is not applicable when the taxpayer is liable to a more favourable tax regime, except if the annual value of the rent is equal to or higher than 1/15 of the registered value of the rented building.
