Low incomes and property values grant IMI exemption to nearly 651,000 people
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.
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