What is IMI tax in Portugal? IMI stands for "Imposto Municipal sobre Imóveis", which translates to Municipal Property Tax in English. It is a property tax levied on real estate properties in Portugal, to be paid annually.

Spanish pensioners move to Portugal for tax benefits. The spanish newspaper says the “people are hospitable,” the “cities are attractive,” it highlights Lisbon, Porto and Braga and mentions the “vast rural landscape,” “healthy diet” and “wild unspoilt coastlines”. ABC states that interest from British citizens has also picked up over Brexit uncertainties with the Lisbon and Porto regions attracting most applications for the NHR regime as well as the Algarve and Madeira. Retired Spanish over 65 group are opting to move to Portugal to avoid paying higher taxes in their own country. ABC states the moving to Portugal means saving thousands of euros in tax payments.

The tax benefit on the purchase of the first home in terms of IMT and Stamp Tax (IS) also benefits those over 35 years of age, as long as they purchase a property together with an eligible young person (under the age of 35)

Anyone who owns a house, land or any other property must be aware of the deadlines for payment of the Municipal Property Tax (IMI). The date to pay the IMI started on May 1 and may extend until November for those who pay tax over 500 euros.

Lagoa has joined the 5 existing Algarve municipalities charging tourist tax, as of April 13th, reportedly to "allow improvements to be made to municipal public and private assets". Find out more about it!