The Silves Chamber approved the extension, for another two years, of the exemption from Municipal Property Tax (IMI) for buildings intended for permanent housing.
The new measure applies to buildings whose exemption period ended in 2022.
According to the Chamber of Silves, this measure “is justified from a social point of view due to the fact that they are buildings built or acquired in a period that saw significant increases in purchase values or construction costs and with high bank financing costs , thus relieving family budgets».
Furthermore, the Municipality of Silves applies the minimum IMI rate for urban buildings (0,3%), and the family IMI for households with 1, 2 and 3 descendants, in accordance with the municipal strategy of «alleviating the heavy tax burden , imposed at central level, which affects Portuguese work and families».
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