PORTUGUESE CÂMARAS received a total amount of 1.7 billion euros in 2007 as income from the property tax charged locally, almost as much as the 2.2 billion euros distributed to the national câmaras through the annual national budget.
The Imposto Municipal sobre os Imóveis (IMI) and the Imposto Municipal sobre Transações Onerosas de Imóveis (IMT) were the main sources for the tax income of the municipalities.
In 2007, the IMI tax generated an income of 945 million euros for the câmaras, representing a growth of 14.5 per cent when compared with the previous year (826 million). IMT generated 852 million euros, an increase of 39 per cent over 2006.
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