Prédio urbano (urban property)
Prédio urbano Urban property
For tax purposes a «prédio» is a piece of land together with the water, plantations, buildings and structures permanently attached to it, belonging to someone's estate and having economic value. Urban properties are all those that should not be classified as rural. They divide into residential, commercial, industrial or services, building land, and «other».
In practice
Each unit under horizontal property is treated as a property in its own right: a flat has its own entry in the tax register, its own caderneta predial and its own taxable value. A building and a structure on it are treated as permanent once they have stood in the same place for more than a year.
The class of urban property decides a great deal. Only residential property used as an own permanent home can use the more favourable IMT tables, and commercial, industrial, services and «other» property is excluded from AIMI. Building land is a class of its own: it counts towards AIMI and is valued by different rules from finished buildings.