The State Budget for 2026 brings news for those who are thinking about buying a home: the Government will update the levels of the Municipal Tax on Onerous Property Transfers (IMT) by around 2%. The measure aims to monitor inflation and prevent values from becoming out of adjustment with the market.
Although it may seem like a discreet change, this update could make a difference at the time of writing. For many buyers, especially first-time buyers, it can mean paying less tax and, in some cases, not paying ‘a cent’.
Exemption increases in 2026
According to Ekonomista, a website specializing in economics and finance, the main change is in the IMT exemption limit. Until 2025, anyone purchasing a house worth up to 104,261 euros for their own permanent home was exempt from paying tax. From 2026, this limit increases to 106,346 euros.
The difference may seem small, but it puts more properties within the exemption range, especially outside large cities. An increase of two thousand euros may be enough to free a buyer from paying tax on a deed.
The maximum tier will also be updated. The highest rate of 7.5%, which currently applies to properties above 1,128,287 euros, will only apply from 1,150,853 euros onwards. In practice, those who buy luxury homes below this value still escape the heaviest tax.
IMT Jovem with revised values
Ekonomista explains that the IMT Jovem regime, aimed at buyers up to 35 years old, will also be adjusted. The maximum value of the property covered by the benefit increases to 330,539 euros, and the second ceiling increases to 660,982 euros.
These changes aim to ease the tax burden on young people buying a home for the first time, especially in large cities, where prices have been rising steadily.
Who wins and who loses
The main beneficiaries are first-time home buyers, who will be able to see more properties exempt from tax. Young people up to 35 years old also benefit, as they can now apply for the special regime in houses with a slightly higher value.
However, according to the publication, the impact varies depending on the level. Those who buy properties of intermediate value may end up paying a little more, if the new framework places them at a less favorable level. For those who buy more than one million euros, the effect will be almost imperceptible, since the maximum limit also rises.
A practical example
Imagine a buyer who purchases a house costing 100 thousand euros for his or her own permanent residence. With the new limits, the property will be completely exempt from IMT. If the purchase were made in 2025, the same buyer could have to pay a small amount.
In a property worth 500 thousand euros, the result is different. Without access to the youth regime, the buyer may pay a slightly higher tax, as the brackets have been updated. It’s not a significant difference, but it could represent a few thousand euros in the total purchase.
Pay attention to the new tables
He emphasizes that, although the changes still await final approval in Parliament, the tendency is for approval. Anyone planning to buy a house in 2026 should simulate the values based on the new tables. A small adjustment in the price or date of the deed can determine whether there is tax to pay, or whether the buyer completely avoids the IMT.
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