The Municipality of Castro Marim will have the lowest IMI (Municipal Property Tax) in 2024. The measure is aimed at own and permanent housing, going from 0.35% to 0.30% in houses with an asset value below 200 thousand euros.
In parallel, the maximum discount on Family IMI was also decided, which means that property owners who have dependents benefit from a reduction in the tax amount between 30 and 140 euros.
It was also decided to extend the exemption from Municipal Tax on Properties intended for housing for another two years, in accordance with article 46 of the Tax Benefits Statute.
The exemption period, which is now three years, is now five years, applicable to urban buildings whose tax value does not exceed 125 thousand euros.
These measures are part of a set of tax benefits implemented in Castro Marim, and recently distinguished as an “Innovative Measure” by the Observatory of Family Responsible Local Authorities, “which contributes to a greater balance between the political will to provide fiscal relief to residents, without giving up the structure of recipes”, highlights the vice-president of the Municipality of Castro Marim, Filomena Sintra.
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