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.
