The Municipal Property Tax (IMI) bill is automatically divided into two or three payments depending on whether its value ranges from 100 to 500 euros or exceeds 500 euros. The deadlines for these payments are set, respectively, in May and November, or in May, August, and November.

Although the default deadline for the last installment of the IMI — whether paid in two or three installments — is November 30th, the Ministry of Finance indicated to the Lusa news agency that, since the date fell on a Sunday and today is a public holiday, it is still possible to settle the IMI until Tuesday.

The IMI rate is annually set by municipalities within a range of 0.3% to 0.45% for urban properties (a category that includes construction land), with the tax calculated by the Tax and Customs Authority (AT) based on the rate communicated to them and the taxable patrimonial value of the properties.

For rural properties, the IMI imposes a flat rate of 0.8%.