Troika Portugal has defined a calendar of general tax measures to be implemented during the next 3 years and the IMI Property Tax (municipal annual rates on Property) has not been excluded. Property owners can expect to pay more and in specific cases where people have had the benefit of exemptions - same taxes will either be abolished or reduced. Property with a patrimonial value fixed prior to 2004 will be subject to re-evaluation in 2012.
On a more positive note IMT Tax is to be reduced. A great incentive for potential buyers in 2012. IMI tax is not calculated in the same way for all properties. The year of purchase or the last evaluation predetermines the difference in calculation or percentage tax.
Source: http://www.nobregarealty.com/