Portugal IMI calculator 2026

The VPT (valor patrimonial tributário) is the value the Tax Authority gives the property for tax purposes. It is on the property record, the caderneta predial, which you can download free from the Portal das Finanças, and on previous IMI bills. If you have not bought yet, ask the seller or the estate agent for the caderneta.

The VPT is usually well below the market price. You can ask for a new valuation every 3 years if you think it is too high, but the new value can go up as well as down.

Yes, at the same rates as residents. IMI depends on where the property is, not on where the owner lives. The difference is that the reliefs for a permanent home (the temporary exemption and the IMI Familiar deduction) require the property to be your tax address in Portugal, so a holiday home owned from abroad pays the full rate.

The exception is property owned by entities domiciled in a jurisdiction on Portugal's list of preferential tax regimes, which pays 7.5% a year instead of the municipal rate. This calculator does not apply that rate.

IMI is paid by whoever owns the property on 31 December, and each year's tax is billed the following year. If you buy in 2026, your first bill arrives in 2027. The deed does not split the year's IMI between buyer and seller unless you agree to it.

The bill is issued in April in the Portal das Finanças. The number of instalments depends on the annual amount:

• up to €100: in one go, in May;
• €100 to €500: in May and November;
• over €500: in May, August and November.

You can always pay the full amount in May. Payment is by Multibanco reference, home banking or direct debit from a Portuguese account.

The bill is always available in your area of the Portal das Finanças, which you access with your NIF and password. Do not count on a paper notice reaching a foreign address. If you live outside the EU or EEA you may need a fiscal representative, who receives tax notices on your behalf. Missing a payment leads to interest and a fine, so set up direct debit or ask your representative to keep track of the dates.

Temporary 3-year exemption: for a permanent home with a VPT up to €125,000, when the household's gross income in the previous year is no more than €153,300. The property must become your tax address within 6 months of the purchase. It can be used at most twice in a lifetime, does not apply to second homes and is refused to anyone with debts to the Tax Authority or Social Security. Since 2023 each municipality can extend it by 2 years.

Permanent exemption: for low-income households with low-value property. The limits are tight and checked every year against the tax return.

A fixed deduction from the IMI on the permanent home of families with dependants: up to €30 with one dependant, €70 with two and €140 with three or more. Each municipality decides whether to apply it and how much. For 2025, 278 of the 308 municipalities do.

The Additional IMI is charged when the total VPT of the residential property and building plots held by one owner exceeds €600,000 (double for married couples who opt for joint taxation). It is assessed separately, in June, and does not apply to most owners. Companies pay it with no allowance.