The Portimão Council approved a proposal that will make it possible to lower the Municipal Property Tax (IMI) to alleviate “the tax burden on families” due to the “current economic situation”.
This is, according to the Portimão Chamber, the third time, in a space of five years, that the municipality lowers the IMI rate, allowing Portimão families a progressive and sustained tax break.
The proposal envisages that the «IMI – Municipal Tax on rural properties and urban properties not evaluated is reduced by 0,8% and that on urban properties evaluated is reduced by 1 percentage point (reduction from 0,43% to 0,42% ), and the rate applicable to degraded urban buildings should be increased by 30%, considering as such those that, given their state of conservation, do not satisfactorily fulfill their function or endanger the safety of people and goods", says the municipality.
In the case of property intended for permanent and own housing, coinciding with the owner's tax domicile, the proposal now approved takes into account the number of dependents who, under the terms of the IRS code, make up the household, in the sense that there is a reduction of 20, 40 and 70 euros for, respectively, one, two, three or more dependents.
With regard to the variable participation in the IRS of taxpayers with tax domicile in the municipality of Portimão, a maximum participation of 5% to be collected in 2022, referring to income related to the year 2021, was decided.
As for the spill, the entry for 2022 for this year will be 1,5% on taxable income subject to and not exempt from corporate income tax (IRC), generated in the geographic area of the municipality.
These proposals will now be considered at the Municipal Assembly of Portimão.
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