IMI Property Tax in Portugal 2026: Deadlines, Rates and Exemptions
By Hugo Ribeiro, Certified Accountant · Member of the Order of Certified Accountants · HVR Business Consulting
Portugal's 2026 IMI property tax (on 2025 ownership) is due in May as a single instalment if up to €100; in two instalments (May and November) between €100 and €500; and in three (by 31 May, 31 August and 30 November) above €500. Each municipality sets the rate between 0.3% and 0.45% of the property's taxable value (VPT) for urban property (0.8% for rural). Buyers of a permanent primary residence can get a 3-year exemption (VPT up to €125,000 and household taxable income up to €153,300).
By Hugo Ribeiro, Certified Accountant OCC no. 64356 · HVR Business Consulting · August 2026
2026 payment deadlines
Annual IMI
Instalments
Deadlines
Up to €100
1 (single)
31 May
€100.01 – €500
2
31 May and 30 November
Above €500
3
31 May, 31 August and 30 November
You may always pay everything at once in May. Missing an instalment triggers late interest and, eventually, enforced collection — direct debit avoids the problem.
How it is calculated: VPT × municipal rate
IMI is charged on the property's taxable value (VPT) — not market value — at the rate each municipality sets annually: 0.3% to 0.45% for urban property, 0.8% for rural. Example: an apartment with a VPT of €150,000 in a 0.35% municipality pays €525/year, in three instalments of €175. VPT usually sits below market value and can be re-assessed on request — in some cases a re-assessment lowers the tax.
Exemptions
Temporary (3 years) — for a permanent primary residence with VPT up to €125,000, if the household's annual taxable income does not exceed €153,300;
Permanent — for low-income households, granted automatically by the tax authority within the legal income and VPT limits;
Family IMI — in participating municipalities, a fixed deduction per dependent child: €20 (one), €40 (two) or €70 (three or more).
AIMI — the wealth surcharge on residential property
The Adicional ao IMI applies to the sum of each owner's residential VPTs above €600,000, at 0.7% for individuals in that first band. Couples can opt for joint assessment, doubling the allowance to €1.2 million. Investors holding several properties should plan ownership (personal vs corporate) with the numbers done — analysis we run in our real-estate accounting practice, and in the real estate investment tax guide.
Frequently asked questions
When is IMI due in 2026?
Up to €100, a single instalment by 31 May; between €100 and €500, in May and November; above €500, in May, August and November. You may always pay in full in May.
What is the IMI rate in 2026?
Between 0.3% and 0.45% of the VPT for urban property, depending on the municipality (0.8% for rural). Your municipality's exact rate is on the Portal das Finanças.
Who is exempt from IMI?
Buyers of a permanent primary residence with VPT up to €125,000 and household taxable income up to €153,300 get a 3-year exemption; low-income households get an automatic permanent exemption within the legal limits.
What is family IMI?
A fixed deduction on the primary residence's IMI in participating municipalities: €20 with one dependent child, €40 with two and €70 with three or more.
What happens if I miss a payment?
Late interest accrues and, if unpaid, enforced collection follows, with costs. Direct debit removes the risk.
FAQ
When is IMI due in 2026?
Up to 100 euros, a single instalment by 31 May; between 100 and 500 euros, in May and November; above 500 euros, in May, August and November. You may always pay in full in May.
What is the IMI rate in 2026?
Between 0.3% and 0.45% of the taxable value (VPT) for urban property, depending on the municipality, and 0.8% for rural property.
Who is exempt from IMI?
Buyers of a permanent primary residence with a VPT up to 125,000 euros and household taxable income up to 153,300 euros get a 3-year exemption; low-income households get an automatic permanent exemption within the legal limits.
What is family IMI?
A fixed deduction on the primary residence's IMI in participating municipalities: 20 euros with one dependent child, 40 with two and 70 with three or more.
What happens if I miss an IMI payment?
Late interest accrues and, if unpaid, enforced collection follows, with costs. Setting up direct debit removes the risk.