Lagoa lowers IMI (property) rates

Lagoa council is cutting its municipal rates tax (IMI) in 2016.

Mayor Francisco Martins (PS) announced the plan in April, he has told local paper Lagoa Informa, but now the PSD party has presented a proposal to much the same effect.

“It seems to me their proposal is just for show,” Martins told the new local paper, saying PSD Lagoa is talking “without having the necessary paperwork” on what the reduction will mean.

“We (PS) have already done our studies and know how far we can go,” he said.

Martins is not saying yet what kind of reduction ratepayers can expect. But the issue has ignited his opposition, with PSD leader Cesário Belém, saying his party estimates that reducing IMI will cost the council “between €450,000 and €600,000”.

Belém has also said his party is suggesting lowering rates even further for families with children and first-time home owners.

For now, it is a case of wait and see.

Further information on how far the IMI tax cuts will go is expected soon, we’re told.