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Established in 2017, “AIMI” is a supplementary property tax assessed on higher valued properties, based on the sum of all taxable “urban” real estate (“VPT”). This incremental levy is sometimes euphemistically referred to as a Portuguese Wealth Tax. Urban properties classified as “commercial, industrial or service” and “other” are exempt.

In 2019, AIMI rates are as follows:

Companies (non-residential use by owners/directors; otherwise same as Individuals):

0.4%    for total of rateable urban “VPT”s;

Individuals (for couples, double exempt value):

0.7%    When the total “VPT” value of all properties is between €600,000 and €1,000,000;

1%       For “VPT” real estate totals between €1,000,000 and €2,000,000;

1.5%    For “VPT” total exceeding two million euros (new in 2019).

Assessment of the Additional to IMI is calculated in June referring to real estate holdings on 01 January of each year. Payment is due in September.