| Property Tax
Relating to your property the following taxes and costs must be considered:
IMT
A transfer tax equivalent to your Stamp Duty, which is calculated according to a sliding scale that varies from year to year.
| Up to € 81.600 - 0% |
|
| Between € 81.600 and € 112.200 - |
2% minus € 1.632 |
| Between € 112.200 and € 153.000 - |
5% minus € 4.998 |
| Between € 153.000 and € 225.000 - |
7% minus € 8.058 |
| Between € 255.000 and € 510.000 - |
8% minus € 10.608 |
| Over € 510.000 – |
6% |
Purchasing Fees
These are paid by the buyer and are broken down as follows:
- Final deed admin.
- Costs
- Registration
- Incidentals
Allow 1.2% of total sale value which will cover the above costs.
IMI (Rates)
Every year you will be asked to pay a tax called « Contribução Autárquica », recently named IMI, (property rates). This tax is charged at a rate of 0.4% to 0.8% for urban properties (« villas », apartments and plots), which is then charged on the rateable value of the property as assessed by the local Tax Department.
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