IMI is a Municipal Property Tax. It is a direct tax levied on the taxable value of property (rustic, urban or mixed buildings) located in Portugal.
Who pays IMI in Portugal?
IMI is payable by all owners of rural, urban or mixed properties in Portugal
Under the law, real estate property includes all units of territory, including the water, plantations, buildings and all constructions of any nature that they may be in or on them permanently, providing that they are part of the assets of an individual or legal person and under normal circumstances have economic value.
For the purposes of IMI, each independent unit that is part of the horizontal property regime is considered real estate property.
The taxable value of property is determined by a valuation made in accordance with the IMI Code.
What are the IMI rates in Portugal?
The following rates apply to the taxable value of all real estate property held by the taxpayer in Portugal:
| Type of property | Normal Rate | Special IBCM rate1 |
| Rustic property | 0,8% | 0,16% |
| Appraised urban propertiy | 0,3% a 0,45% | 0,06% a 0,1% |
| Property owned by residents in tax havens | 7,5% | 1,5% |
1IMI rates are lower for properties used by companies licensed at the International Business Centre of Madeira.
