The municipal council plans to reduce the variable participation in the Individual Income Tax (IRS) by 0.5 percentage points from the 2025 rate of 3%, according to a proposal obtained today.
“With the start of a new political management cycle, the goal is to continue the annual reduction of the variable IRS rate by 0.5 percentage points, alleviating the tax burden on families by increasing their disposable income and encouraging the retention of qualified workers,” stated the municipal president, Pedro Duarte, who authored the document going to vote.
The council will also vote on setting the Municipal Property Tax (IMI) rate at 0.324% for urban properties, maintaining the current rate, with a proposed 30% increase in tax for degraded urban buildings.
This tax is annually set by municipalities within a range of 0.3% to 0.45% for urban buildings.
The IMI rate for owner-occupied homes, set at 0.27%, will remain unchanged.
“Considering that the municipal public strategy regarding municipal taxes now favors the reduction of the variable IRS participation, no change to the effective IMI rate is expected for 2025,” explained Pedro Duarte.
