Property owners in Portugal who have a Municipal Property Tax (IMI) exceeding 500 euros must proceed with the payment of the second installment by the end of today. This is the second of three annual installments established for higher IMI values.
According to current legislation, when the IMI amount to be paid exceeds 500 euros, the total amount is divided into three installments throughout the year. The first installment is normally settled in May, followed by the second in August and the third in November.
This installment payment method was created to facilitate compliance with tax obligations by taxpayers with more significant tax amounts to pay. Owners must ensure they make the payment within the established deadline to avoid possible penalties or interest.
