The result of requests for reassessment of the taxable value of homes, justified by the fact that it is distorted relative to market value, will now be reflected in the IMI payable by the owner.
This measure is included in the State Budget Proposal for 2022 (OE2022) and will allow, in contrast to what is currently happening, to provide IMI with the same treatment that is already given today by the IRS, IRC, as a result of the second property assessment. or IMT.
The IMI Code provides that if a taxpayer, municipality or CFO disagrees with the result of a direct appraisal of city property, they can request or promote, respectively, a second appraisal with a period of 30 days prior to doing so from the date the taxpayer is notified.
This second estimate can be requested, among other reasons, when there is a distortion between the taxable patrimonial value (VPT) of the property (to which the IMI applies) and the normal and market value.
In these situations, a second assessment is carried out by the committee that sets up the new VPT. However, in the light of the legal regulations in force, the result of this second assessment, based on market distortion, is only taken into account for IRS, IRC or IMT purposes and not IMI.
However, as highlighted by Lusa Ricardo Reis of consulting firm Deloitte, the OE2022 proposal extends the results of this new assessment to IMI.
Thus, the inspector explains, the municipal property tax will also be calculated on the basis of the VPT established as part of this second assessment, which will ultimately lead to a reduction in the tax payable annually by the owner.
On the evening of the 11th, the government presented to the Assembly of the Republic a proposal for OE2022, which predicts that the Portuguese economy will grow 4.8% in 2021 and 5.5% in 2022.
The first OE2022 parliamentary debate process will take place from 22 to 27 October, the day of the general vote. The final global vote is scheduled for November 25 at the Portuguese parliament in Lisbon.
