OE 2024. Vai comprar casa? Saiba se vai estar isento de IMT

OE 2024. Are you buying a house? Find out if you will be exempt from IMT

The boundaries of the Taxable Heritage Value of a property up to which it is exempt from paying IMT will change in 2024, as indicated by the new State Budget proposal for the next year. Therefore, if you are thinking of buying a house in 2024, take this factor into consideration. Find out the new threshold in this article.

18 Oct 20233 min

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Looking to buy a house with financing next year? Clarify all your anxieties about the process before diving in. Contact Poupança no Minuto for free credit intermediation and leave it in the hands of professionals.

But let's see, first, what will be the limits for IMT exemption in 2024.

What is IMT and when do I pay?

The Municipal Tax on Onerous Transfers (IMT) is a tax paid to the State at the time of a priority exchange deed, such as a purchase, exchange or inheritance.

It is worth mentioning that the IMT assumes several levels, on which fees have been updated by around 5% with the proposal of the State Budget for 2024 (OE2024).

What are the new limits for IMT exemption?

Learn, first, that the value to consider for IMT exemption is the Taxable Property Value (VPT) of each property. This can be found in the property's deed.  

So, as explained by Notícias ao Minuto, the limit "over which exemption exists or a rate of 1% is applied, depending on whether it is respectively a primary and permanent residence or a second home" of the first bracket increases "from the current 97,064 euros to almost 102,000 euros starting in January".

Let's see the new limits for each bracket and their respective rates: 

  • Top tier: exemption up to 101,917 euros of VPT and marginal rate of 1%;  
  • Second tier: exemption up to 149,412 euros of VPT and marginal rate of 2%;  .
  • Third tier: exemption up to €190,086 VPT and marginal rate of 5%;  
  • Fourth bracket: exemption up to 316,772 euros of VPT and marginal rate of 7%;  
  • Fifth tier: exemption up to 633,453 euros of VPT and marginal rate of 8%.  

In addition, for values between 633,453 and 1,102,290 euros, the IMT will be applied through a single rate of 6%, and when the VPT is higher than 1,102,920 euros, a single rate of 7.5%. &Nbsp;

Are you buying a house in 2024 with a housing loan? Consider a credit intermediary.

If buying a house through financing is one of your goals for 2024, it is important to inform yourself in advance about all the issues that may arise.

For this, many Portuguese people resort to the free services of credit intermediaries, in order to feel a close follow-up.

Buying a house is a big step in anyone's life, and we all want the same thing: for the process to be quick, without challenges, and with the greatest possible savings. And this is where the credit intermediary comes in, streamlining communication between you and the banks, dealing with the paperwork, and helping with the analysis of the best financing proposal.  

Contact Poupança no Minuto: Our agents are here for you, and will be with you throughout the entire process of buying your new home!


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