Property tax in Portugal is probably not your favorite topic to research. However, it is one of the most important aspects of buying a property – to understand additional Portugal property purchase costs. One of the most important that you will need to consider during the process is the Property Purchase Tax (IMT). With our property tax calculator, we have made calculating the property purchase tax as easy as possible for you. Our Portugal property transfer tax calculator is ready to use to calculate the amount that you will need to pay on your property.
In general, property purchase tax in Portugal is the same for both foreigners and locals, and both can use our Portugal property tax calculator to find out the amount they will need to pay. Note that if you are buying through an offshore company, then expect higher rates.
In this article, we’ll run over property tax in Portugal for 2022 – what the IMT tax is, information about our property tax calculator, and stamp duty. You can work out the amount of IMT that is applicable to you with our property tax calculator below.
What is IMT tax Portugal?
The IMT or Imposto Municipal sobre a Transmissão Onerosa de Imóveis (Municipal Tax on Onerous Transmissions of Real Estate) is a transfer tax that is paid when purchasing Portuguese property. The IMT in Portugal can range from 0% to 10% depending on the purchase price of the property, the type of property (rural/urban), location (continental Portugal, autonomous region), and whether the property will be the primary residence or second home.
Note that the IMT in Portugal needs to be paid before completing the purchase. For the IMT Tax in Portugal, the amount charged is levied over the purchase price.
The IMT real estate rate can be determined using the following sum:
IMT = property value x tax rate x tax deductions
Goldcrest’s IMT calculator is able to work out the percentage for you.
Property Calculator IMT:
