For taxpayers with an IMI Municipal Tax (IMI) exceeding 100 euros, the final instalment of this tax is due by the end of this month.
According to current legislation, whenever a taxpayer has an amount of IMI due greater than 100 euros, it is automatically split into two or three instalments, depending on whether it exceeds, respectively, 100 euros and 500 euros. This is then to be paid in May and November or in May, August and November.
In 2021, and regarding the 2020 tax, the Tax and Customs Authority (AT) sent 4,031,117 IMI settlement notes, including 2,431,731 between 100 and 500 euros and 678,726 above 500 euros.
It is these taxpayers who will now have the month of November to pay the last installment of IMI. Around 560,000 took advantage of the option that has existed since 2019, which is paying the entire tax on the first installment, in May.
The IMI rates are set annually by the municipalities, in a range between 0.3% and 0.45% (for urban buildings and land for construction).
The tax is levied on the Property Tax Value (VPT) of the properties, so buildings with the same VPT but located in municipalities with different IMI rates pay a different tax amount.
Rustic (land) buildings, on the other hand, pay an IMI rate of 0.8%.
Original article available in Portuguese at http://postal.pt/
