IMI will be more expensive in 2022: which houses will it go up the most?

The average construction value per square meter (m2) will rise to 512 euros in 2022, according to an ordinance published this Monday, December 20, 2021, in Diário da República. This value serves as the basis for calculating the patrimonial value of properties (VPT), ​​which in turn is used to calculate the Municipal Property Tax (IMI), which should become more expensive next year for newly built or rehabilitated houses.

“The average construction value per square meter is set at 512 euros, for the purposes of article 39 of the Municipal Property Tax Code, in force in the year 2022”, reads ordinary no. 310/2021 signed by the Assistant Secretary of State and Tax Affairs, António Mendonça Mendes. This cost applies “to all urban buildings whose model 1 declarations, referred to in articles 13 and 37 of the Municipal Property Tax Code, are delivered from January 1, 2022”, in this in this case, properties that are subject to revaluation or rehabilitation or newly built.

Based on this value, the base value is determined for the purposes of evaluating the buildings, which in 2022 will be 640 euros (512+25%). As the IMI Code explains, in article 39, “the base value of the buildings (Vc) corresponds to the average construction value, per m2, plus the value of the square meter of the implantation land fixed at 25% of that value”.

“The average construction value is determined taking into account, in particular, the direct and indirect costs incurred in the construction of the building, such as those relating to materials, labour, equipment, administration, energy, communications and other consumables”, he also clarifies. the document.


IMI rises for new or rehabilitated houses: why?

Remember that the calculation of the IMI is done by multiplying the VPT (value that the Finances assign to the property, according to article 38 of the IMI Code) by the IMI rate of the municipality in which the property is located. The VPT, in turn, is based on the multiplication of several coefficients and calculated according to the following formula:

VPT = Vc x A x Ca x Cl x Cq x Cv
Vc: Base value of built buildings
A: Gross building area
Ca: Coefficient of affectation
Cl: Location coefficient
Cq: Quality and comfort coefficient
Cv: Oldness coefficient

One of the fundamental parts to calculate the VPT is precisely the base value of the built buildings, referring to the average cost per square meter, to which the aforementioned 25% is added.

This year, the average construction value rose from 492 to 512 euros. Therefore, and based on this value, the base value is determined for the purposes of evaluating the buildings, which in 2022 will be €640 (€512 +25%) – in 2020 and 2021 this value was fixed at €615.

According to ECO accounts, the IMI of newly built or rehabilitated urban buildings will increase by 4%. For this, the publication took as an example an owner of a house in Lisbon, with 100 m2, and an IMI rate of 0.3% (minimum rate applied in the capital):

IMI clearance in 2021
Base value of 615 euros – property valued at 52,520 euros, paid 457.56 euros of IMI.

IMI clearance in 2022
Base value of 640 euros – property valued at 158,720 euros, which will pay 476.16 euros of IMI.

According to the publication, the same property, with the same characteristics and in the same area, but with a higher base value, will pay next year 18.6 euros more of IMI than in 2021 (+4%).

Source:  idealista.pt