IMI Tax Rate to Rise in 2022

The increase in the IMI tax rate is 25 euros compared to the price this year.

According to the ordinance published yesterday in Portugal’s Official Gazette, the price of the square meter related to the Municipal Property Tax (IMI) will increase to 640 euros, up 4%, or 25 euros, compared to the year 2020.

According to the article, “The average construction value per square metre is fixed at 512 (euros), for article 39 of the Municipal Property Tax Code, to be in force in 2022.” The value applies to new constructions or properties undergoing modification or reconstruction or following a new valuation.

Order 310/2021 states that the measure “applies to all urban buildings whose model 1 declaration, referred to in articles 13 and 37 of the Municipal Property Tax Code, is delivered after January 1, 2022.”

The diploma signed by the Secretary of State for Fiscal Affairs, António Mendonça Mendes, sets the average value of construction per square metre for article 39 of the Municipal Property Tax Code, to be in force in 2022.