Tavira Câmara has approved a reduction of the IMI (municipal property tax) applicable in 2013 to help families and businesses; this is a U-turn as an increase had already been approved. Tavira town council will now receive €1.5 million less than previously estimated.
In September, Tavira Câmara had already approved the maximum increased rate for IMI in 2013, as have most other municipalities in the Algarve.
However, with the ongoing economic crisis and general tax increases, the Tavira municipality felt an increase of IMI would be negative for families and companies “already financially strangled”. “This has forced the municipal executive council to revise its previous decision,” said the Câmara in a statement. The Tavira Câmara chose to keep IMI rates for 2013 the same as they were in 2012: 0.7% for urban property and 0.4% for urban property registered on the CIMI (IMI Code) after January 2004.
This will be the first time since 2003 that Tavira municipality has not increased IMI rates to the maximum permitted by law, in the hope that the measure will soften the hardships felt by families and businesses in the council.
