IMT - Municipal Tax on Onerous Real Estate Transfers

The amount of this tax is not the same for all properties. It varies according to the property's deeded acquisition value or taxable asset value (it is considered the highest), the rate to be applied (from 0% to 8%), depending on the type of property and purpose, and there are cases in which you are exempt from paying this tax. It must be paid before the deed is signed.

The IMT rates are as follows:  

. Acquisition of an urban building or autonomous fraction of an urban building intended exclusively for own and permanent habitation, in the Autonomous Region of Madeira, in the year 2025 - 0% and 8%, exempt up to 127.396€.
. Acquisition of an urban building or autonomous fraction of an urban building intended exclusively for residential use - between 1% and 8%;  
. Acquisition of rustic buildings (land) - 5%;
. Acquisition of other urban buildings (land for construction and commerce) and other onerous acquisitions - 6.5%.
. Special conditions for young people buying their own permanent home up to the age of 35.

Stamp Duty

0.8% on the purchase price, to be paid before the deed.

Simulator

Registration

Made at the Land Registry Of The Land Registry of the area in which the property is located and in the Finance Office. The main costs are as follows:

·  Registration of the acquisition 250€;

·  Registration of the mortgage, if there is 250€;

·  Extras +/- 100€.

Deed

The deed can be done through a private Notary's Office, or directly at the Land Registry Office. Costs vary depending on the necessary acts and if the buyer resorts to financing, we point out an average value of 500€
 

IMI - City Property Tax
 

It is an annual tax on a property and stipulated by each City Council, but within the range defined by law, which varies between 0.3% to 0.8% depending on the age of the property, value of the tax assessment, type of property, location. The calculation of IMI is based on the tax asset value of property on 31 December of each year, and is due at the end of April of the following year. If the amount exceeds €250.00, it can be paid in two installments, the first at the end of April, and the second at the end of November, the year following the year in which the tax applies. When an urban property is purchased for permanent own housing, its owner may benefit from exemption from the payment of IMI for a period of 3 years, if the property purchased has a tax asset value that does not exceed the value of €125,000.00 and if the owner, in the previous year, has not had a collectible income for the purposes of IRS,  over €153,300.00.

TAXES, FEES AND EXPENSES

TAXES, FEES AND EXPENSES

TAXES, FEES AND EXPENSES