PROPERTY TAX UNDER WRAPS

Some tax payers will see the value of their properties rise by five times under the new patrimonial evaluation process conducted by the fiscal authorities. Although the Finanças’ Autoridade Tributária e Aduaneira has begun sending notifications to tax payers with the updated patrimonial value of their properties, information on the municipal property tax (IMI) to be paid as from 2013 has not yet been released.