Nearly 651,000 taxpayers exempt from IMI
The Ministry of Finance said nearly 651,000 taxpayers were exempt from paying IMI (Municipal Property Tax) in 2024 due to low incomes or low property valuations, covering roughly 2.06 million rural properties and 617,000 urban properties. The ministry attributed low rural values to lack of reassessment and many smallholdings, especially in the North and Centre. Property owners and those buying rural homes should check local IMI rules and valuation practices when budgeting for costs.
Update: Ministry gives exact figure and regional breakdown
Diário de Notícias gives the precise tally as 650,907 taxpayers exempt in 2024, covering 2,059,105 rural properties and 616,980 urban properties; the Ministry repeated that low rural valuations reflect missing reassessments and many smallholdings, mainly in the North and Centre.
The municipal property tax (Imposto Municipal sobre Imóveis), known as IMI, is an annual tax on property ownership calculated from the property’s taxable value, with the exact rate set by each municipality. For expats who own property, IMI is a recurring local cost that can vary by location and is often central to policy discussions about housing affordability.
