Tuesday, January 10, 2017

The value of the land will determine the IMI of 26 types of real estate – TVI24

There are 26 types of real estate, which from now on will be evaluated in the light of the cost of construction, added to the price of the land and not according to the general formula of evaluation used to calculate the Municipal Tax on Immovable property (IMI) in the houses. The new rules come into force today.

In April 2013, the Supreme Court of Administrative gave reason to the owners of the Bullring of Albufeira complained that the valuation of the property, for the purposes of IMI, had not been carried out correctly. Result: the heritage value of this precinct has decreased from 2.57 million to about 1.3 million euros. Hereafter, this type of contention between the tax authorities and the taxpayers will be more rare since yesterday was published the list of 26 type of real estate that, from now on, will always have to be evaluated in the light of the cost of construction plus the price of the land and not of the general formula assessment – used in homes, reports the cash Money/ the Daily News.

The area, the location and quality indicators, and comfort, among others, will no longer be part of the formula to calculate the effects of IMI in these urban buildings, commercial, industrial and services.

The list includes spaces as diverse as stadiums, pavilions, multi-purpose dams, golf courses, bullrings, theme parks, windmills, watermills, petrol stations, car wash, roulottes and campsites.

The new rules apply only to assessments and future constructions, but nothing prevents the owners of these types of real estate to request a reassessment of the asset value to be eligible for the new method.


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