The regulation, which will come into force from January 2025, provides for a reduction “between 25% and 2.78%, depending on the valuation of your properties, on the general IPTU rate of 0.36%, which is in force in the municipality of Lagoa”, announced the Lagoa Chamber.

This will allow, assures the city hall, “around 80% of people from Lagoa to pay IMI below the national minimum rate, which is 0.3%”.

In the Chamber's view, this is “a fair and balanced reduction, reinforcing tax attractiveness, for those who reside or want to reside in the municipality, which will be automatically applied in the next IMI settlement, depending on the tax asset value of the property”.

With this measure, properties with an asset value of up to 66,500 euros "will pay IMI at a rate of 0.27%", that is, they will see, in practice, a rate lower than the national minimum rate of 0.30%, provided for in IPTU code. Analysing the reality of the municipality, the vast majority of people from Lagoa will have a reduction that will allow them to pay an effective tax rate of 0.29%”.

Based on the approved ranges, «properties valued up to 66,500 thousand euros will have a reduction in the IMI rate of 25%, properties between 66,500 and 125,000 thousand euros will have a reduction of 19.44%, properties between 125,000 and 200,000 thousand euros will have a reduction of 13. 89%, properties between €200,000 and €250,000 will have a reduction of 8.33%, properties between €250,000 and €500.00 will have a reduction of 2.78% and properties worth more than 500,000 euros will not have any reduction, paying the general rate of 0.36%”.

“The application of this regulation benefits the middle class and those who need it most, depending on their family and the asset value of their properties. Contrary to what would happen if the IMI rate of 0.36% was reduced blindly and equally for everyone, regardless of the property value of the properties”.