Modelo IMI

The Modelo IMI is a tax model used by the Portuguese Tax and Customs Authority, DGITA. IMI stands for Imposto Municipal sobre Imóveis, which translates to Municipal Property Tax. This tax is applied annually to all immovable properties located in Portugal, including urban and rustic land and buildings.

Property owners or their representatives must submit an IMI declaration by the end of April each year, indicating the assessment value of their property. The assessment value is determined based on the property's area, location, and other characteristics, such as use and condition. The tax rate ranges from 0.3% to 0.5%, depending on whether the property is being used for residential or non-residential purposes.

Failure to submit the IMI declaration or pay the tax within the deadline may result in penalties and interest charges. The Modelo IMI is a crucial tool for DGITA in monitoring and collecting taxes related to immovable properties in Portugal.

• IMI: Imposto Municipal sobre Imóveis
• DGITA: Portuguese Tax and Customs Authority