Houses up for revaluation may find themselves paying higher rates if they get lots of sun, or have a “privileged view”. Jornal de Notícias has broken the news, suggesting the formula for setting rates is being altered. It will thus only affect houses that are being valued in the future, not those that already have their IMI bills calculated. The changes come in a law recently approved by the government which should soon be published on the site of the Presidency of the Republic.
According to JN, the changes will come under the clause pertaining to “coefficiency between location with relative operability”. It basically means that quality and comfort will suddenly be taken more into account than it has in the past.
IMI rates could thus increase by a maximum of 20%, or conversely reduce by up to 10%.
JN adds that increases in the past have been reduced to 5%. “In other words, a clear view and greater exposure to the sun could only increase or reduce the value of the tax by 5%. Now the valuation could increase or reduce the tax even further”.
For those who dismiss the national quip that “the government would tax the sun if it knew how to”, this development suggests the government is getting there.
natasha.donn@algarveresident.com
