The owners have until Tuesday to pay the second installment of the IMI – Observer

The deadline for the payment of the second of the three installments of municipal property tax (IMI), which applies to cases where the amount exceeds 500 euros, ends on Tuesday, according to the information of Tax Administration

Set annually by municipalities, the rates of IMI can vary between 0.3% and 0.45% for urban buildings (housing and land to to build), while in the case of the applicable rate is 0.8%. According to TA, only 17 of the 308 Portuguese municipalities informed the Treasury that they would apply the maximum rate of IMI and 143 said they had opted for the minimum rate.

In terms of conditions, this tax may be paid "during the month of April, when the amount is equal to or less than 250 euros, in two installments, in the months of April and November, when the amount exceeds 250 euros, and in three installments in the months of April, July and November, when their amount exceeds 500 euros. "

In this context, municipal councils may apply deductions depending on the composition of the cleaning (discount of 20 euros for a child, 40 euros for two children and 70 euros for three children or more) and 225 counties where families with children will benefit from discounts in the IMI. Aveiro, Évora, Santarém and Setúbal are the district capitals that applied the maximum rate of 0.45% of IMI and chose not to grant family reduction to their residents.

Lisbon applied the minimum rate of 0.3% and reduced the IMI to families according to the number of children and Porto applies a rate of 0.3240%, with no right to reduction for households. Until Tuesday, only eight of the 308 municipalities had not declared the tax rate that they would apply: Pampilhosa da Serra (Coimbra), Arraiolos and Redondo (Évora), Aljezur and Lagos (Faro), Sabugal (Guarda), Constância (Santarém) and Mangualde (Viseu)

Vila Nova de Poiares (Coimbra) and Alandroal (Évora) will apply the 0.5% rate of IMI as they are still covered by programs to support the local economy. The rates for each municipality can be found at https://www.portaldasfinancas.gov.pt/en/main.jsp?body=/imi/consultarTaxasIMIForm.jsp.125659007]To know how much to pay for IMI , a taxpayer you will need to multiply the property tax value of the property you own by the rate applied in your county and deduct the family discount if you qualify and this assistance is applied in your municipality. The IMI paid in 2018 is based on the taxpayer's assets up to December 31, 2017.

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