Mãos com notas de euros simbolizando IMI

How to pay less IMI?

Did you know it is possible to lower the IMI amount you pay? Learn DECO PROteste's recommendations to reduce the tax.

09 May 20243 min

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"Many properties may be taxed as new when they are no longer"  

According to the consumer advocacy organization, DECO PROteste, you may be paying more Municipal Property Tax (IMI) value than you should be.

This is because "many properties may be being taxed as new, when they are no longer ," it can be read on Notícias ao Minuto , about the advice from the organization.

So, find out the reasons why you may be paying more IMI and how to reduce this value to save on next year's tax:

  • "The value of the property for tax purposes is reviewed by the Tax Authority (AT) every three years based on the inflation rate. However, as the age of the property (coefficient of antiquity), the construction value per square meter and the location coefficient are not automatically updated by the AT, some taxpayers may be paying more IMI. This is because in practice, many properties may be taxed as new, when they are no longer actually new";
  • "Every year, municipalities communicate to the AT the IMI rate they will charge to the municipalities. In 2024, many chose to maintain the rates practiced in 2023, between 0.3% and 0.45%. In the calculation of IMI, the price per square meter is also considered, which in 2024 remains at 665 euros."
  • "These increases, however, only reflect on the tax to be paid when the properties are sold, donated or inherited, or when the owners request a new evaluation of the housing from the Tax Authority. Therefore, unless the AT automatically reassesses, those who do not trigger these processes will not see this coefficient updated. But we must consider the other side of the coin, as warned by Rita Rodrigues, responsible for Communication at DECO PROteste: when requesting a new evaluation of the house, the AT updates all coefficients that influence the calculation of IMI. As in the last two years the price per square meter has increased significantly, it may mean an increase in the tax to be paid";  

It is possible to determine if you should request a new assessment of your property to the Tax Authority, through this DECO PROteste simulator, filling out the IMI form 1 and submitting it to the Tax Authority (AT) or online on the Finance Portal.

Need some extra support to be able to handle your tax responsibilities? It may be possible to reduce your monthly expenses with credit installments and/or insurance! By renegotiating the conditions of your products, transferring contracts to new entities, or consolidating multiple credits into one, you can end up paying much less for these contracts. These are financial solutions that Poupança no Minuto helps with, at no cost, so you can save time, bureaucracy, and start saving at the end of the month! Contact us to evaluate your specific situation:

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