Porto wants to increase the value of IMI on vacant properties by "10 times"

The Porto City Council plans to propose a tenfold increase in the IMI tax on vacant properties in the historic center starting in 2027. Mayor Pedro Duarte announced this measure to encourage property owners to rent or sell their vacant homes. Currently, there are 6,400 identified vacant buildings in the area. The council aims to rehabilitate these properties and has previously sent letters to owners about municipal support. If owners do not comply, they may face increased IMI rates, with a potential increase of up to ten times for properties in high-pressure urban areas. The IMI adjustment process is annual, with 531 properties affected in 2023.