AIMI (additional municipal property tax)
Adicional ao Imposto Municipal sobre Imóveis Additional municipal property tax AIMI
AIMI is an annual tax on the combined taxable value (VPT) of the urban properties in Portugal that a person or company owns, or holds usufruct or surface rights over. Properties classified as commercial, industrial or services, and those classified as «other», are among the exclusions. A fixed amount is deducted from the taxable base for an individual or for an undivided estate.
In practice
Someone buying one home to live in rarely reaches AIMI: the combined taxable value would have to exceed the deduction the IMI Code allows. The tax mostly reaches owners of several residential urban properties or of building land.
Ownership is counted on the first day of the year, on the same rules as IMI. Married couples may opt for joint taxation and undivided estates have their own regime; the amounts, the rates and the conditions are set out in the IMI Code, linked below. Properties that were exempt from IMI in the previous year do not count towards the total.