Lisbon, 22 May 2025 (Lusa) - Portugal's Social Security Financial Stabilisation Fund (FEFSS) last year received €139.48 million from the surcharge on the municipal property tax (IMI), an increase of 10.9% on the previous year, according to the figures in the General State Account (CGE), published by the Directorate-General for the Budget (DGO).
Created during the first government led by António Costa, the Adicional ao IMI, also known as AIMI, is imposed at different rates depending on whether the property owner is a private individual or a company. The revenue obtained is then allocated to the FEFSS, after some deductions.
According to the CGE data, the revenue from the surcharge had made it possible to transfer €127.3 million to the so-called Social Security “cushion” in 2022 and €125.8 million in 2023.
In 2024, AIMI revenue increased, reversing the fall recorded a year earlier, allowing €139.48 million to be transferred to the FEFSS, or €13.7 million more than in 2023.
The surcharge is paid annually, during the month of September, based on the taxable property values (VPT) of the buildings listed in the matrices on 1 January of the year to which the tax relates.
Unlike the IMI, which is levied on each property separately, the AIMI is levied on the sum of the VPT of urban buildings (including building land), except for urban buildings classified as "commercial, industrial or for services" and "other". Also excluded from the scope of this tax are properties that were exempted or were not subject to payment of IMI.
While in the case of companies the tax rate is 0.4%, for individuals there are three levels of rates: a rate of 0.7% on the asset value of properties that exceed €600,000; another of 1% when the value exceeds €1 million; and a third of 1.5% for values above €2 million.
Couples can double the exempt value in each of the tax brackets (to €1.2 million, €2 million and €4 million respectively) if they choose and inform the Tax Authority (AT) that they want to be taxed together.
Properties owned by entities subject to a more favourable tax regime pay a rate of 7.5%.
The total revenue generated by the AIMI (before deductions) totalled €147.9 million in 2024, compared to €145 million in 2023.
LT/ARO // ARO.
Lusa
