Algarve towns charge highest rates in Portugal

Four Algarve municipalities – Albufeira, Loulé, Lagos and Castro Marim – have topped a national ranking for boroughs that charge the highest property tax rates (IMI), claims a study published this week.

Data shows that €1.5 billion was collected from national property owners in Portugal in 2014, a 12.4% increase on the previous year and a 32% hike compared to 2010.

Lisbon brought in the most money (€111 million), followed by Sintra (€51 million), Cascais, Porto and Vila Nova de Gaia – with these five boroughs representing 20.3% of the national rates’ booty.

On average, every Portuguese resident paid €141.

The highest average for rates was charged in Albufeira (€689) while the lowest was registered in Corvo (€36).

Data was collected by the directorate of local authorities (DGAL) and revealed in a Marktest study.

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