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Tag Archives: #properies

“IMI” drops for 24,000 taxpayers seeking revaluation

26 Tuesday Mar 2019

Posted by Ursula in Posts

≈ Comments Off on “IMI” drops for 24,000 taxpayers seeking revaluation

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#properies, drop, IMI, overvalue, taxpayers, vpt

More than 90% of the taxpayers requesting a reassessment of their property based on an outdated “VPT” (Tax Asset Value) achieved a reduction in the “IMI” due (Municipal Property Tax). Properties were overvalued by more than €447 million. Updating the VPT (on which the tax rate applies) does not happen automatically. Legislation permits owners to call for a reappraisal three years after the previous one. This request – which is free of charge – can be made directly at the local tax office or via the Finanças Portal.

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