The State Secretary for Budget Affairs stated on Tuesday that no increase in the IMI is foreseen in the state budget and that linking the revision of the location coefficients to a tax increase is a “major leap forward”.
State Secretary Nuno Santos Félix is being heard at the Budget and Finance Committee about a possible increase in IMI following a possible request from the PSD.
“This is not foreseen in the 2024 state budget [OE2024] any increase in IMI. Period, paragraph,” said Nuno Santos Félix, repeating the same statement regarding the Stability Program, whose time horizon is “wider.”
The basis of this request for an urgent hearing are statements made by the Secretary of State for Budgetary Affairs in an interview with Jornal de Negócios and Antena 1 in October, in which he said that a revision of the coefficients determining the valuation of urban areas buildings is planned , as it is a “VPT misalignment”. [Valor Patrimonial Tributário] of real estate in relation to what the reality of the market is”.
In his first intervention during the hearing, Nuno Santos Félix noted that the IMI Code stipulates that every three years the National Commission for the Assessment of Urban Buildings (CNAPU) makes a proposal to revise the zoning plans and the respective location coefficients – one of the elements that impact the asset value of properties (VPT) – distinguishing this technical work from the political decision.
For example, he noted that extrapolating the result of technical work to taxation is “a quantum leap”, firstly because carrying out this evaluation work cannot lead to conclusions on the political decision and because, after the proposal has been adopted to to revise the location of the coefficients, an impact on the property valuations that occur in the following year and is reflected in the IMI charged a year later.
The Municipal Real Estate Tax Law stipulates that every three years the National Commission for Urban Buildings proposes to the government the maximum and minimum location coefficients to be applied in each municipality, with the last assessment taking place in 2015 and included in the assessments carried out in 2016. further.
The location coefficient is one of the elements that influences determining the value of a property subject to municipal property taxes. However, its application is not automatic. The changes resulting from the current revision process will only be taken into account for property valuations carried out from the date on which the new coefficients apply.
Therefore, depending on the new location coefficients, the change in the VPT will only occur for new properties or for properties undergoing adaptation or reconstruction works, a change in allocation or after a new appraisal.
Source: DN
