Do you have a house? See if you are entitled to an IMI discount.

Did you know that it is possible to lower your home loan by renegotiating your current conditions? And transferring the housing credit to another bank, changing the interest rate regime? Talk to a credit intermediary from Poupança no Minuto and find out more. Or first understand if it is in the IMI that you will have a decrease in value, for a budget increase.

Do you have a house and kids? Learn about family IMI.

There is a discount for homeowners in certain municipalities on the Property Municipal Tax (IMI) in the case of dependents: It is called family IMI.

So, if you have a child and own a property, you are guaranteed the family real estate tax deduction. This tax reduction will vary according to the number of children you have.  

Deco Proteste, quoted by the Notícias ao Minuto publication, explains that "it is called family property tax, but in practice, it is a discount on the tax rate that some municipalities grant to property owners who have dependents in their care. In other words, a fixed deduction is subtracted from the total tax to be paid, which varies depending on the number of dependents in their care".

This happens alongside the implementation of the "More Housing" program, therefore "some municipalities have already increased the discount granted to families with dependents". However, the new rates will still be announced by December 31.

What is the discount depending on dependents? 

Regarding the family IMI, in municipalities that offer discounts, homeowners with one dependent are entitled to a €30 discount, with two dependents a €70 discount, and with three dependents a €140 discount.

But how do you know if the municipality where your property is located grants the discount?

"Consult the Finance Portal. This is because there are municipalities where no discount is assigned and others where only households with three or more dependents are entitled to this discount," the news reads."

And will the discount be automatically attributed?  

Yes, it is the Tax Authority (AT) itself that verifies each household of each taxpayer to understand if it is eligible to receive the reduction in IMI, so "taxpayers entitled to a discount on IMI do not have to request it from the Tax Authority, nor do they have to go to the municipality's offices to provide any evidence of the number of dependents in their care".  

Remember that IMI is charged annually to the property owner on December 31 of the previous year, and the household considered for the IMI discount is also the one the owner had on that date.

Have you concluded that you will not be entitled to the family IMI? Learn about other ways to ease your monthly budget through savings on your housing credit: Contact the credit intermediaries from Poupança no Minuto and find out about other options that help you lower your monthly installment!