Porto Proposes Ten-Fold Property Tax Hike on Vacant Buildings
Porto City Council will propose multiplying the municipal property tax (Imposto Municipal sobre Imóveis or IMI) by ten for vacant properties located in the city's historic centre. Porto Mayor Pedro Duarte announced the plan as part of the upcoming 2027 municipal budget to encourage owners to bring disused homes to the rental market. Duarte also noted that the city has collected €33 million in developer compensation since 2021 from projects that chose not to build required affordable housing.
Pedro Duarte is the Mayor of Porto, elected in the most recent local elections. He leads the city's municipal government and is responsible for implementing local policies, such as the recent initiative to provide free public transport for residents.
