In 2017, the Municipality of Portimão will reduce the rate of the Municipal Property Tax from 0,50% to 0,45%, in the case of urban buildings. The proposal was presented by Mayor Isilda Gomes and, according to the local authority, allows for "a substantial reduction in the amounts that families in Portimão have paid to the State in connection with this tax."
The Municipality of Potimão explains that «this was a political option on the part of this executive, since joining the FAM would allow establishing the IMI rate at 0,50%, (according to the proposed amendments to the Municipal Property Tax Code defined in article 161 of Law No. 7-A/2016, of 30 March) however the municipality of Portimão has shown that it is able to comply with the payments agreed within the scope of the FAM by reducing the rate to 0.45%».
This is the first time, in seven years, that the Portimão Council has been able to relieve the citizens of the amounts paid in municipal taxes.
The municipality explains, by way of example, that “a family residing in Portimão that previously paid 600 euros in annual IMI will now pay 540 euros. (Assuming the equity value remains the same)».
With this measure, the municipality says that it will relieve «the taxpayers of the municipality by about 2 million euros/year».
The Municipality of Portimão says that, «for this decision to have been possible, the economic and financial results of recent years contributed greatly, it should be remembered that last year Portimão registered the best results ever, (positive results in the order of 8,1, 2016 million euros), as defined in the State Budget for XNUMX».
The remaining fees and taxes will be fixed at the same values as in 2016. The IMI for rustic buildings will be 0,8%; the surcharge of 1,5% on the corporate income tax and the variable participation rate of the IRS by 5%.
This proposal was approved at a Chamber meeting and must now be discussed and voted on in a session of the Municipal Assembly.
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