The magic of  Christmas at Vale do Lobo

Added tax for luxury properties

Owners of properties worth over €1 million will have to pay an additional tax of up to 0.8% of the property’s value in 2012 and 1% in 2013.

Where a property has not yet been evaluated according to the new property tax (IMI) rules, owners must pay an added tax of 0.8% of the property’s value until November 2012, whilst houses that have already been assessed will pay 0.5% on top of the IMI.