Payment Period for Portugal's Additional Municipal Property Tax (AIMI) Commences
The Portuguese Tax and Customs Authority (AT) has begun the collection period for the Adicional ao Imposto Municipal sobre Imóveis (AIMI) for the 2025 tax year. Property owners liable for this tax have from September 1st until September 30th to complete the payment. The AIMI is a national tax levied on the sum of the taxable asset values (VPT) of urban properties held by a single owner.
The tax was established by the 2017 State Budget and targets property portfolios of higher value. The calculation of the tax is performed by the AT in June, based on the property ownership records as of January 1st of the corresponding year. The tax applies to individuals, undivided inheritances, and companies that own urban properties, which includes residential buildings and land for construction. Properties classified for commercial, industrial, or service use are excluded from the AIMI's scope.
For individual taxpayers (natural persons), the tax is triggered when the total VPT of their properties exceeds €600,000. A rate of 0.7% is applied to the value between €600,001 and €1,000,000. For asset values between €1,000,001 and €2,000,000, the rate is 1%. Any value exceeding €2,000,000 is taxed at a rate of 1.5%. Married taxpayers or those in a civil union can opt for joint taxation, which doubles the exemption threshold to €1,200,000.
For most corporate entities, a flat rate of 0.4% is applied to the total VPT of their residential properties and land for construction, with no initial exemption threshold. A punitive rate of 7.5% is applied to properties owned by entities domiciled in jurisdictions listed by the Ministry of Finance as having a more favorable tax regime, commonly known as tax havens. This higher rate does not apply if the property is owned directly by a natural person residing in such a jurisdiction.
The AIMI also extends to undivided inheritances. In this case, the inheritance is treated as a single entity and taxed accordingly. However, the head of the inheritance can inform the AT of each heir's share, allowing the individual liability to be calculated based on each heir's personal property holdings and corresponding tax bracket. This communication must be completed annually by all heirs.
According to official statistics from the Portal das Finanças, state revenue from AIMI in 2024 amounted to €154.52 million, an increase of €8.32 million compared to the previous year. This revenue was generated from 570,961 properties held by 93,516 owners. The total taxable value of these properties was reported as €33.62 billion. Of the total collected, corporate entities contributed €121.02 million, while individuals paid €33.5 million.
All revenue collected from the AIMI is legally consigned to the Fundo de Estabilização Financeira da Segurança Social (FEFSS), Portugal's social security stabilization fund. Taxpayers liable for the AIMI will receive a notification for payment and must settle the amount within the stipulated September deadline to avoid late payment penalties.
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