"The Municipal Property Tax Code, approved by Decree-Law no. 287/2003, of November 12, establishes in articles 38 and 39 that one of the objective elements integrated in the calculation formula of the assessment system of urban buildings is the average construction value per square meter. This ordinance maintains in force the values applied during the year 2023".
The price per square metre for the purposes of IMI and the tax assessment of properties increased by €25 in 2023, rising to €665.
At issue is the average construction value per square meter, which in 2023 was set at 532 euros, plus 25%, as defined by the Municipal Property Tax Code (CIMI).
Therefore, and taking into account the CIMI formula, the value used amounts to 665 euros, which is the highest since 2003, the year in which the IMI replaced the Municipal Contribution.
The price per square meter of construction is one of the elements that forms part of the calculation formula for the evaluation system for urban buildings and, consequently, the determination of their tax asset value (VTP), on which the IMI rate is applied.
The price per square meter of construction is fixed annually by Government decree, following a proposal from the National Urban Building Assessment Commission (CNAPU).