Exemption from Rates in Portugal

First time buyers in Portugal may apply for exemption from paying IMI (Isenção de Imposto Municipal sobre Imóveis). The request should be made, within 60 days from the signing of the escritura, at the Finanças for the area where the property is located.

Exemption is only granted on main residences (not on second homes or holiday homes). The period of acquisition is counted either from the date of acquisition (for a property which is not new) or emission of the municipal license of use (for a new build property).

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