Higher taxes for 211,000 property owners in Portugal
A change to Portugal’s property tax laws will see higher ‘Imposto Municipal sobre Imóveis’ (IMI) demands landing on owners’ door mats this month. The new tax is to be levied on individuals who own multiple properties whose total tax value (valor patrimonial tributário) exceeds €600,000.
The tax office has reported that 211,690 taxpayers will be stumping up more. This number includes both companies and individuals, inherited properties that have yet to be divided up and over 100,000 cases in which the property’s definition is incomplete or out-of-date.
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