Like the
United Kingdom, property owners in Portugal are liable
to pay for local service taxes. In Portugal this tax is
called Imposto Municipal Sobre Imoveis (or
IMI) and is collected bi-annually. The cost
of IMI is based on the market value of the property
and the location of the property is also taken into
consideration.
Unlike the United
Kingdom however, the council tax rates in Portugal are
not extortionate and are proportionate to income.
Although none of us like paying taxes to any government,
IMI is relatively painless and you can apply for up to a
six year exemption of paying this tax when you purchase
your first home in Portugal (though terms and conditions
do apply.
IMI
bills are issued by each the local council and you have
several methods of payment - at the council offices,
utilising a ATM cash machine or online. Failure to pay
on time will result in interest being added to your bill
and ultimately if your IMI bill remains unpaid the
council and government do have the right to seize the
property to gain payment. |
