“IMI” - Municipal Property Tax
Annual tax, mandatory for all owners. It is a percentage (variable according to the municipality where it is inserted) that falls on the tax asset value (VPT) on any building in Portugal, whether urban or rustic.
“IMT” - Municipal Tax on Onerous Real Estate Transfers
One-time tax, paid by the time of acquisition. Varies according to:
- acquisition value of the property or VPT (whichever is higher)
- rate to be applied (ranges from 1 to 8%)
- location (Mainland Portugal or islands)
- purpose (own and permanent housing or secondary housing)
“IS” - Stamp Duty
One-time tax, paid simultaneously with “IMT”. It is a fixed percentage of 0.8% under the acquisition value or the VPT (whichever is higher).