In 2025, the price used to calculate the Municipal Property Tax (IMI) will remain at €665 per square metre, continuing a trend that has been in place since 2023. This value will not change, ensuring that IMI calculations for urban properties remain stable throughout the coming year. This decision was officially confirmed by the Ministry of Finance with the publication of an ordinance in the Diário da República last Wednesday. This measure will have direct implications on the property valuation process and the tax amount that property owners will need to pay.

The €665 per square metre plays a crucial role in determining the Taxable Asset Value (VPT) of urban properties. The VPT is the value used as the basis for IMI collection, and it is calculated based on various factors such as the property’s location, its type, construction features, and the square metre price. This value reflects the average construction costs and market price of properties in the area, and it is key in determining how much the property owner will pay annually in IMI.
The VPT is recalculated periodically, meaning that any changes to the square metre price can significantly impact the tax amount due. However, as in 2025, when the square metre value remains unchanged, the IMI amount will also remain largely unaffected, providing a degree of predictability for property owners and real estate consultants.

Although the square metre price is an important reference for calculating IMI, it’s essential to note that its application is not automatic for all properties. This value is only practically applied in specific cases, such as new constructions or when a property undergoes significant alterations like renovations, extensions, or reconstructions. In such cases, the €665 per square metre will be used to recalculate the VPT and, consequently, the IMI value.
For example, for a newly built property or one that has undergone rehabilitation or major renovation works, the square metre price will be used to determine the current market value, reflecting the property’s increased value after the interventions. This also means that for older properties or those that have not undergone recent changes, the square metre value may not be immediately reflected unless a new fiscal evaluation is conducted.

In conclusion, the square metre value for IMI calculation in 2025 remains unchanged, with the price of €665 per square metre being applied for the third consecutive year. This stability brings benefits to property owners, as the IMI calculation process remains predictable and consistent. However, the application of this value is not automatic and only reflects properties that have undergone significant changes or new constructions. Therefore, it is crucial for property owners to stay informed about market conditions and fiscal valuations to ensure that the IMI value is calculated fairly and accurately.

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