The budget execution data up to April indicates a consistent increase in revenue from this tax, with an additional nearly 220 million euros generated in the first four months of the year compared to the same period last year.
The IMT tax applies to the purchase and sale of properties, whether new or used. It is also applicable in cases of property exchange, usufruct grants, buyer contractual position transfers, or in divisions and partitions.
According to budget execution data, the IMT, which contributes to municipal revenue, amounted to 209.9 million euros in January, rising to 374.2 million euros by February. By the end of March, the accumulated annual figure reached 568.1 million euros, escalating to almost 735 million euros by April.
The value increase shows double-digit year-on-year rises, except for March, which saw a 5.5% increase compared to the same month in 2024.
This trend contrasts with the previous two years, where monthly year-on-year increases were often negative. It is necessary to look back to the 2022 budget execution to find comparable (or even higher) year-on-year revenue jumps like those observed up to April.
This rise occurs in a context where individuals up to 35 years old began benefiting from tax relief for purchasing their first house. This measure only came into effect in August 2024, meaning that homes purchased by young people up to April last year were still subject to IMT.
The increase in IMT is attributed to the higher number of property transactions and the sales prices, as this tax is calculated based on the transaction amount or the property’s taxable patrimonial value (VPT), applied to the higher of the two.
For homes intended for primary and permanent residence, there is a tax exemption up to a certain value, set at 104,261 euros in 2025.
Meanwhile, individuals up to 35 years old benefit from a full exemption for properties up to 324,058 euros and a partial exemption between this value and 648,022 euros (with an 8% tax rate), subject to fulfilling certain conditions, including purchasing their first primary and permanent residence.
