The Government has presented a proposal for the exemption of IMT to young people up to the age of 35 who want to buy a house. In this article, Comparjá explains the contours of this measure and in what other scenarios the exemption from this tax is applied.
The Municipal Tax on Onerous Property Transfers (IMT) is a tax levied whenever a house is purchased. This is applied on the Tax Patrimonial Value (VPT) or on the value declared in the deed and is levied on the greater of these two amounts. This tax is paid at the time of the execution of the deed.
In what situations is it possible to be exempt from IMT?
Portuguese law provides for exemption from IMT in some situations. We present to you the occasions when you can be exempt from paying this tax.
The Government has presented a proposal for the exemption of IMT to young people up to the age of 35 who want to buy a house. In this article, Comparjá explains the contours of this measure and in what other scenarios the exemption from this tax is applied.
The Municipal Tax on Onerous Property Transfers (IMT) is a tax levied whenever a house is purchased. This is applied on the Tax Patrimonial Value (VPT) or on the value declared in the deed and is levied on the greater of these two amounts. This tax is paid at the time of the execution of the deed.
In what situations is it possible to be exempt from IMT?
Portuguese law provides for exemption from IMT in some situations. We present to you the occasions when you can be exempt from paying this tax.
Properties for young people up to 35 years old with a maximum property value limit of 316 thousand euros
A new measure established by the Government will come into force in May 2024 and will exempt IMT from young people up to the age of 35 who want to buy a house if the taxable patrimonial value or the amount declared in the housing deed does not exceed 316,772 euros. This exemption measure is part of the New Housing Strategy and is only applied up to the 4th tax bracket.
Permanent residential properties up to €97,064
If you want to buy a house or an apartment intended exclusively for permanent housing, know that you can enjoy the IMT exemption if the taxable patrimonial value or the amount declared in the deed of the house does not exceed 97 064 euros, in mainland Portugal.
In the autonomous regions of Madeira and the Azores, the rule remains, but the value is set at 121 330 euros.
Buildings or fractions for rehabilitation works
furniture purchased for rehabilitation interventions can also be exempt from IMT. To have this benefit, the purchaser must start the respective works within a maximum period of three years from the date of acquisition of the building.
Properties classified as heritage
