Modelo IMI

Modelo IMI stands for Model for Municipal Property Tax (Imposto Municipal sobre Imóveis in Portuguese). It is a tax model used in Portugal to calculate property taxes on urban properties.

Modelo IMI was developed by DGITA (Direção-Geral das Atividades Económicas). It is a government agency responsible for managing various tax models and systems in Portugal.

The purpose of Modelo IMI is to establish a fair and standardized method for calculating property taxes based on the value of urban properties. It ensures an equitable distribution of tax burden among property owners.

The taxable value in Modelo IMI is determined by assessing the value of the property using predefined criteria, such as location, characteristics, and market value. It takes into consideration factors like area, urbanity index, accessibility, and other relevant parameters.

No, not all properties are subject to Modelo IMI. Only urban properties, which include buildings, plots of land with construction potential, and other urban constructions, are subject to this tax model.

The assessment of Modelo IMI is done annually. Property owners receive a notification with the assessed value and corresponding tax amount they are obligated to pay.

Yes, property owners have the right to appeal against the assessed value if they believe it does not reflect the real market value. They can submit a request for reassessment within the specified time frame.

If property owners do not pay Modelo IMI within the specified deadline, they may be subject to penalties and fines. The local tax authorities have the power to enforce the collection of taxes through legal means.

For further information about Modelo IMI, including specific rules, exemptions, and payment procedures, you can visit the official website of DGITA or contact your local tax authorities.

No, Modelo IMI is different from Property Transfer Tax (IMT). While Modelo IMI is an annual tax on urban properties, IMT is a one-time tax paid when there is a transfer of property ownership.