Are you a homeowner? Property tax will not rise in 2024.
If you own a house, we have good news for you: The value of the Municipal Property Tax (IMI) will not increase in 2024, as there was doubt about it.
Not yet a homeowner, but want to be in 2024? We have the solution... contact the real estate agency Casa no Minuto and the credit intermediaries from Poupança no Minuto to find the ideal home and credit for you! But first, let's see what was at stake regarding IMI.
There is no forecast for an increase in IMI for 2024.
According to the Secretary of State for Fiscal Affairs, Nuno Santos Félix, in the Budget and Finance Committee, there is no planned increase in the Municipal Property Tax (IMI). This is because "linking the revision of location coefficients to a tax increase is a quantum leap," as stated in a news shared by Notícias ao Minuto.
The doubt arises from a mandatory request from the PSD, to which the Secretary of State explains that "there is no increase in IMI foreseen in the State Budget for 2024 [OE2024]. End of story, paragraph".
This request for a hearing was urgent and arose from statements made by Nuno Santos Félix to Jornal de Negócios and Antena 1 in October, where he announced that the coefficients determining the evaluation of urban buildings are set to be revised, due to the "misalignment of the VPT [Taxable Asset Value] of properties compared to the reality of the market", as stated in the news.
The review arises from the observation of the Secretary of State for Fiscal Affairs regarding the IMI code, which provides that every three years the National Commission for the Evaluation of Urban Properties (CNAPU) shall make a proposal for the revision of zoning and respective location coefficients (one of the factors impacting the VPT). However, it warns that this technical work is not linked to political decisions.
"By adopting the proposal to review location coefficients, it will impact property assessments in the following year, reflected in the IMI that will be charged one year later."
Having the National Commission for Urban Buildings propose, every three years, the maximum and minimum location coefficients to be applied in each municipality, the last review took place in 2025 and was incorporated into property assessments starting in 2016.
Application of the location coefficient is not automatic.
It should also be noted that the application of the location coefficient, impacting the determination of the VPT, is not automatic and is only taken into account in property evaluations carried out from the date the new coefficients are applied.
In other words, "the change in VPT due to new location coefficients will only occur for new properties or those that are the subject of works for modification or reconstruction, change of use, or as a result of a new evaluation," concludes the news.
So, these are good news for property owners in 2024. Is this a plan you aspire to for next year? If so, look for your home with the help of a real estate agency, such as Casa no Minuto! And for housing credit, just contact the credit intermediaries of Poupança no Minuto to find the right financing proposal for you.
With our services, you can find the property and credit that suit your preferences, needs, and possibilities. Contact us and learn more!