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If you are a homeowner, mark your calendar: May brings IMI payments.

For property owners or landowners, May brings the payment of the Municipal Property Tax (IMI) by the end of 2023. Find out if you may be exempt from this payment and, if not, what is the deadline to pay.  

06 May 20243 min

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What is IMI and why do I have to pay?

Attention, homeowners: If you have owned your property until December 31, 2023, you will have to pay the Municipal Property Tax (IMI).

This is an annual tax, which applies to the Taxable Patrimonial Value (VPT) of properties held in the previous year.

If you acquired a property or land by the end of last year, you owe IMI this year.

The amount to be paid for IMI will depend on factors such as the purpose of the property, whether it is rustic or urban, and the rate set annually by the municipality where the property is located - it can range from 0.3% to 0.45% for urban buildings, and 0.8% for rustic buildings.

You may be exempt from this payment in some cases.

However, note that there are situations in which you may be exempt from this payment. Such as in the case of a property or land with the purpose of housing for own and permanent use in a household with an annual gross income not exceeding 2.3 times the value of the Social Support Index (IAS 2023 - 480.43 euros), that is 15,469.85 euros, and in the case of the property or land being the permanent residence of a household, with a VPT value of less than or equal to 67,260.20 euros, who have access to a permanent exemption.

And also in the case where the property or land is the fiscal residence of the household and does not exceed an ARV value superior to 125,000 euros, and the annual income does not exceed a value of 153,000 euros, that accesses a temporary exemption.

Note that permanent exemption is automatically granted every year by the Tax Authorities, but temporary exemption must be requested by families without debts to the State, being able to request it twice per taxpayer or household, to enjoy for three years each.

Not exempt? So, mark it on your calendar: It's in May that you must pay  

If you are not covered by the situations in which you can be entitled to exemption from IMI, it is already in May that you pay the first installment of IMI, and there may be more depending on the amount to be paid.

So, point:

  • If you have a payment of up to 100 euros, pay only one installment by May 31.
  • If you have a debt between 100 and 500 euros, you can pay in two installments: the first by May 31 and the second installment by November 30; & nbsp;
  • And if the amount to be paid is more than 500 euros, it can be divided into three installments: the first by May 31, the second by August 31, and the third and final by November 30.

However, even if the value is above 100 euros and you want to pay it in a single installment in May, you can still do it.

Therefore, if you are the owner of a property without the right to exemption from the tax, do not forget to mark on the calendar this fiscal obligation for May.

It is necessary to financially prepare for this task and save immediately, know that the credit intermediaries and insurance brokers of Poupança no Minuto can help you if you have these products contracted.  

To save money, we can renegotiate the terms of contracts with entities, transfer to other entities in search of lower benefits, or consolidate multiple credits into one for a lower single installment. These are some of the options that Poupança no Minuto can help you with, and at no cost! Contact us now to move forward with your process:


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