The IT platform will be completed in 2025. And it will assess rural property for IMI purposes.
The Tax and Customs Authority (AT) wants to know how much land is worth in Portugal. That’s why it has launched a public tender to develop an information system for valuing rural property, which should be completed by 2025. The idea is to carry out land valuations, data that will be used to update the taxable asset value (VPT) used to calculate IMI.
It was last Wednesday, April 3, that this public tender was published in the Diário da República – precisely on the day that Montenegro’s new government held its Council of Ministers for the first time. This land evaluation process had been planned since 2017 and has very concrete objectives, writes Jornal de Negócios:
– Establish interfaces with BUPi [Balcão Único do Prédio], Direção-Geral do Território (DGT) and other entities with the information needed to assess rural properties;
– Updating the land registry with the information sent by BUPi and DGT;
– Updating the rustic land book and evolving the IMI assessment system to include the assessment of rustic buildings.
Candidates for the development of the computerized land valuation platform must meet certain requirements, such as having experience of at least five “tailor-made development projects in the Tax Management business area, namely in the field of building valuation, for national or international tax authorities”, says the tender specifications quoted by the same newspaper. The base value is 285,000 euros and the deadline for completion is 2025.
This is another step towards the tax authorities knowing the real asset value of rural properties, which is currently out of date. For this very reason, the IMI that landowners pay for their land is very low and out of touch with reality, which doesn’t contribute to the need to make the land profitable, whether through production or even renting it out, or to promote its maintenance, which is so necessary for fire prevention.
