Members who own properties with a rateable value over 600.000 euros, or their property is owned by a company, will have received or will receive an additional IMI bill.
AIMI (Adicional ao Imposto Municipal de Imóveis) is a tax added to your regular IMI. This tax substituted the former annual Imposto de Selo (Stamp Tax) levied on properties over one million euros of rateable value (VPT, valor patrimonial tributário). This new tax is levied on habitational properties owned by individuals or companies.
Please note that the amounts taxed are on the total number of properties owned by the same person. This means that if you have two properties where one has a VPT of 200.000 euros and the other 500.000 euros you will pay this additional tax on 100.000 euros, as both property values combined exceed 600.000 euros. Please note that this additional tax is levied on amounts over 600.000 as the IMI tax is payable on amounts under that limit.
Properties owned by companies are taxed at 0,4% on any VPT value. When the company is based in countries where the fiscal system is considered favourable (fiscal havens) this additional tax is charged at 7,5%.
Individuals will see their properties taxed at 0,7% when the VPT of all the properties owned by them reaches the amount of €600.000 euros.
In any of the cases above, when the VPT reaches one million euros, the additional tax becomes a flat rate of 1%. For example, a privately owned property with a VPT of 1.200.000 will be charged at 0,7% for the difference between 600.000 and 1.000.000 and at 1% for the remaining 200.000.
The AIMI will be assessed every year in June and the payment must made in September.
IMI payments in 2018
Members whose IMI tax bill is over €250 and therefore divided in two or more payments have asked our office whether they can pay their IMI tax for the year in one payment only, as sometimes they are not here when the July or November bill arrives. Up to now this has not been possible, as Finanças would not allow it.
Deco, the consumers’ rights association has just released the information that this will be possible as from 2018. The first bill you will receive, usually in March for payment in April, will have the information for all the other instalments due; therefore, you may choose to pay just the one instalment at a time or to pay your whole bill at once.
We remind you that the bills under €250 are paid in just on payment in September, the bills between €250 and €500 can be paid in two instalments (April and September) and the bills over €500 can be paid in three instalments (April, July and November).