At the beginning of this year, IMT revenues fell by 10% again.
The IMT received by local authorities is suffering due to the impact of the drop in house sales. This was the case in 2023 and revenue from this tax on home purchases has not yet recovered.
This is because, during the first three months of 2024, IMT revenue from the purchase of houses fell again by 10% (in other words, it dropped by 44 million euros), writes Jornal de Notícias. The drop in IMT revenue once again reflects the slowdown in house sales in the country.
With the drop in IMT revenues, local authorities see their accounts under threat, as it was the tax with the greatest weight on municipal finances in the last two years.
And the government would have known this when they passed all the law changes to discourage property purchases. And have they got a plan to make up the shortfall? Very unlikely.
By Paolito from Algarve on 22 May 2024, 22:13