The Additional Urban Property and Territorial Tax, known as AIMI, is calculated every year in June by the Federal and Customs Revenue. Despite being linked to IPTU, this tax only applies to certain taxpayers with properties above certain limits.
According to , a website specializing in these matters, AIMI is levied on the sum of the tax asset value of urban residential buildings and construction land located in Portugal. In practice, it is not enough to have your own home to pay this additional amount. The tax only comes into play when the market value exceeds the levels defined by law.
What is AIMI
AIMI is, as the name suggests, an addition to IPTU. It was created to tax higher value properties, focusing on urban residential buildings and construction land.
Other types of properties that do not fit into the categories covered are excluded from this logic. The starting point is always the market value, known as VPT, assigned by the Federal Revenue Service. It is this value, and not the market price of the house, that serves as the basis for calculating the tax.
There is a deduction before calculating tax
Before realizing whether there is AIMI to be paid, the Tax Authority applies a deduction from the tax asset value. In the case of individuals and undivided inheritances, 600 thousand euros are deducted from the total VPT subject to AIMI. This means that an individual only starts paying AIMI if the sum of the market value of residential properties and construction land exceeds this limit. In the case of couples or partners who opt for joint taxation, the deduction doubles to 1.2 million euros.
Couples can benefit from joint taxation
The option for joint taxation may be relevant for couples or de facto partners with high real estate assets. When this option is exercised, the band limits are doubled, maintaining the same rates. To benefit from this possibility, taxpayers must submit the option declaration on the Finance Portal between April 1st and May 31st.
The path indicated by the Revenue is the Additional IPTU area, through the option intended for married people or partners. According to Economy and Finance, this option does not need to be renewed every year, as it remains valid until the resignation is presented.
What are the applicable fees
For individuals, AIMI rates vary between 0.7% and 1.5%, applied in bands. Up to R$1 million, the rate is 0.7%. On the amount that exceeds R$1 million and is up to R$2 million, a rate of 1% applies. For amounts exceeding R$2 million, the rate increases to 1.5%. When there is joint taxation, these ranges double. In other words, the limits rise, but the rates remain the same. In the case of undivided inheritances, the rate is single and is 0.7%.
When is it paid
Although AIMI is calculated in June, payment does not take place that month. The taxpayer receives the notification later and the tax must be paid during the month of September. Unlike IPTU, which can be paid in installments when it exceeds certain amounts, AIMI is paid in one go, regardless of the amount.
Anyone who loses the billing note or wants to obtain a duplicate can do so on the Finance Portal, in the financial movements area, choosing the option to issue a duplicate and selecting the tax corresponding to the Additional IMI.
Undivided inheritances have their own rules
In undivided inheritances, the law provides for the possibility of removing the inheritance from being equated with a legal entity. To do this, the head of the couple must submit a declaration on the Finance Portal between March 1st and 31st, identifying all heirs and their respective shares. Then, each heir, including the head of the couple, must confirm this option between April 1st and 30th. Only with these steps completed will the option take effect. Otherwise, the undivided inheritance maintains the framework provided for AIMI purposes.
What you should check on the Finance Portal
Anyone who owns more than one property, land for construction or housing assets with high asset value must confirm the situation on the Finance Portal. The decisive value is not the purchase price nor the assessment carried out by real estate agents, but the VPT registered with the Federal Revenue Service. It is also important to understand whether the properties are classified correctly, whether there is the possibility of joint taxation in the case of a couple or stable union, and whether the deadlines for exercising this option have been met.
The practical answer
Not all owners pay AIMI. The tax only applies when the property covered exceeds the limits established by law. For individuals, there is a deduction of R$600 thousand. For couples or de facto partners with joint taxation, the deduction increases to R$1.2 million. The tax is calculated in June, but paid in September, in cash. Therefore, anyone who has properties with a high market value should check their situation in advance, to avoid surprises when the bill arrives.
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