IMI - Municipal Property Tax - (

Prime Properties Madeira Real Estate Agency

IMI - Municipal Property Tax.

As a property owner one of the taxes that is need to be paid every year is the IMI - Municipal Property Tax.
This year, the IMI tax bill have already been sent out and payment - in full or the first instalment.

IMI can be paid all at once or in instalments, but the latter is only available for amounts over 100 euros.

If the amount of IMI is 100 euros or less, payment must be made in full by May 31.
If the amount is between 100 and 500 euros, you can pay in two instalments: one in May and another in November.
If the amount is more than 500 euros, you can pay in three instalments: one in May, another in August and the last one in November.

In case of late payment, the IMI code provides that late payment interest will be due or a fine which can vary between 150 and 3,750 Euros.

The Municipal Property Tax can be paid at the post office counters, with the Multibanco, home banking and by direct debit.