Increase in average construction value for Portuguese Property Tax purposes

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Per Ministerial Order no.7-A/2023 of January 3, the average construction value per square meter to determine the Municipal Property Tax (“IMI”) increases from EUR 512 to EUR 532 in 2023.

This value rises from EUR 640 (EUR 512 plus 25%) to EUR 665 (EUR 532 plus 25%). The base value of buildings for determining their taxable value is equal to the average construction cost per square meter plus the cost per square meter of its installation in the land, which amounts to 25% of that cost.

Only urban buildings whose Model 1 forms are delivered after this Ministerial Order enters into force on January 4, 2023, are subject to this increased value.


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