The Additional Municipal Property Tax, known as AIMI, is paid in a single installment during the month of September.
According to the IMI Code, the additional tax is calculated by the Tax and Customs Authority in June of the corresponding tax year based on the taxable value of properties listed on the property registers as of January 1st.
The payment period occurs throughout the entire month of September, commencing today.
Introduced with the State Budget for 2017 during the first government of António Costa (PS), AIMI targets property owners whose cumulative taxable property value surpasses 600,000 euros.
AIMI applies to urban properties, including land for construction. However, it excludes properties classified as “commercial, industrial or for services” and “others,” as well as “residential” properties enrolled in the Rental Support Program.
Properties that were exempt or not subject to IMI payment in the previous year are also excluded.
The rates differ based on the type of ownership, with distinct values for individuals and companies.
For individuals, the AIMI rates vary according to the property value bracket. The rate is 0.7% on property values over 600,000 euros up to one million euros; if the value exceeds one million euros but is under two million, the rate is 1%; for values exceeding two million euros, the rate is 1.5%.
The same brackets apply to properties owned by legal entities meant for personal use by the respective capital holders, members of social bodies, or any management or executive organs, as well as their spouses, children, or parents.
The AIMI rate for legal entities is 0.4%, affecting the total taxable value of urban residential properties and land for construction.
For properties owned by entities located in tax havens – where the tax regime is deemed more favorable per the official Finance list – the AIMI rate is 7.5%. This surcharge only applies to entities and not when the property is directly owned by individuals, as clarified by the IMI Code.
AIMI is also payable by heirs (for properties held by undivided inheritances).
The tax applies to the entirety of the inheritance or, if preferred, to individual shares of each heir, provided this is communicated to the Tax Authority. The decision must be declared by the head of the family and confirmed by all heirs annually.
The AIMI revenue is legally allocated to the Social Security Financial Stabilization Fund (FEFSS).
According to statistics published on the Finance Portal, the state collected 154.52 million euros in AIMI in 2024, an increase of 8.32 million euros compared to 2023.
The collection amount pertains to 570,961 properties, owned by 93,516 proprietors, with a taxable value of 33,624.85 million euros.
Of the 154.52 million paid to the Tax Authority, 121.02 million were paid by legal entities, and 33.5 million were paid by individuals.
