Property Valuations
Financial section |
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| The Portuguese tax department are issuing notifications of valuations of properties whenever the property changes hands or if the appropriate form is submitted following an alteration to the property.
The final valuation, shown on the notification form as the “Vt”, is based on various factors including location, quality and cost of construction, age and size of the property. As well as the new value of the property, the notification also lists the property details such as land area, existence of a garage or pool, the number of rooms etc. This value is then used to calculate the IMI (rates) amount to be charged each year in April and September. It is very important that you check the property details as you only have 30 days in which to appeal against any errors. If you have recently purchased or sold the property for a declared amount on the deed (escritura) less than the valuation given then you should contact your lawyer or tax adviser immediately for further advice as you may be liable for payment of additional taxes. |
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| Whilst every effort has been made to ensure that the details contained herein are correct and up-to-date, this information does not constitute legal or other professional advice. We do not accept any responsibility, legal or otherwise, for any error or omission. | |
