In Portugal, nearly 651,000 taxpayers were exempt from the Municipal Property Tax (IMI) in 2024 due to low incomes and reduced property values. This exemption affected 650,907 taxpayers, covering over 2 million rural and urban properties. The criteria for exemption include a gross income cap of €16,398.1 and a property value limit of €71,296.4. The IMI collection for municipalities was €1,500.3 million, showing a slight decrease from the previous year. The OECD has suggested reforms to the property tax system to support the housing market.