The Municipal Property Tax (IMI) is an annual obligation levied on the Taxable Patrimonial Value (VPT) of urban and rural properties located within national territory. The IMI rate varies depending on the type and location of the property and is set annually by the municipalities.
How is the IMI calculated?
“The VPT is the base value used for taxation purposes and results from a formula defined in the IMI Code, which considers factors such as the area, location, quality of construction, purpose, age of the property, and the average construction value per square meter,” explains the Government.
Accordingly, the VPT can be consulted in the property register, available on the Finance Portal.
The amount of IMI to be paid results from the multiplication of the property’s VPT by the IMI rate set by the respective municipality: IMI Rate × VPT = IMI.
