Do you have a house? Family discount for property tax extended in 2024
Are you a homeowner? In 2024, the discount on the Municipal Property Tax (IMI) for families regarding 2023 will be higher, and will be extended to more municipalities. Understand better, next.
Not yet a homeowner? If this is one of your goals for 2024, why not start looking now? The real estate consultants at Casa no Minuto can help you in the search and acquisition of your property. And if you need a housing loan for this process, talk to the credit intermediaries at Poupança no Minuto! But first, read about the amounts related to the family IMI tax for this year.
IMI familiar with increased discount and extended in 2024
The family Municipal Property Tax (IMI) discount will increase in 2024, and will also be extended to 240 municipalities.
Contrasting with the reduction that, until 2023, was set at 20, 40, and 70 euros, depending on whether one, two, or three dependents, in 2024 the reduction will be 30, 70, and 140 euros, respectively to the number of dependents.
According to the Finance Portal, 237 municipalities have informed the Tax Authority that they intend to allow the Family IMI discount in 2024, which grants a discount of over 140 euros for families with more than three dependents.
The new discount values will be applied in 2024, with reference to the 2023 property tax - therefore, property owners from the past year are responsible for this burden.
Regarding the IMI value, it results from applying the rate of the current year to the Taxable Property Value (VPT) of each property.
Note that the rate varies from municipality to municipality, and is defined by each one, with the aim of "fixing a reduction in the municipal property tax rate in force for the year to which the tax relates, to be applied to the urban property or part of urban property intended for the taxpayer's own and permanent housing or their household, and which is actually intended for such purpose, taking into account the number of dependents who, according to the IRS Code, make up their respective household", according to the IMI code.
How is the rate fixed in each municipality?
Until September 15, the Tax Authority (TA) must send to the municipalities the number of family units and their dependents in their territorial area, with fiscal domicile in a building or part of a building intended for own and permanent housing.
After that, by December 31 of the year related to the tax, the municipalities must communicate to the AT the fixed rate set for each, considering the minimum and maximum limits established by the Government.
Contextualizing the family IMI tax, in 2016 it was the first time it was applied, referring to 2015, and at that time, a percentage discount was applied according to the number of dependents - the following year, the model was changed to a fixed discount value per dependent - and now it is changing again.
Do you still don't have a house, but want to have one? Contact the real estate consultants from Casa no Minuto and find the perfect property for you! If you need housing credit, the credit intermediaries from Poupança no Minuto can also find the ideal financing proposal according to your conditions and preferences.