The IMI bill is automatically divided into two or three payments depending on whether the amount ranges between 100 and 500 euros or exceeds 500 euros, with deadlines occurring respectively in May and November or in May, August, and November.
Thus, today marks the deadline for the final installment of the tax for both taxpayers who pay in two installments and those who pay in three installments.
The IMI rate is set annually by municipalities within the range of 0.3% to 0.45% for urban buildings (which includes land for construction). The tax is calculated by the Autoridade Tributária e Aduaneira (AT) based on the rate communicated to them and the taxable patrimonial value of the properties.
For rural buildings, the IMI imposes a single rate of 0.8%.
