The Homeowners Association said many of these “exorbitant” taxes would “lead home owners to ruin and their property might even be confiscated by the taxman”.
Portuguese homeowners fear local council taxes (IMI) may go up five, or even seven, fold, Portugal’s Homeowners Association (ANP) said Monday.
The ANP said many of these “exorbitant” taxes would “lead homeowners to ruin and their property may even be confiscated by the taxman”.
According to the homeowners association, IMI “will rise 25% from 0.4% to 0.5% of the property value”, but the crux of the problem was that many properties were being revaluated for the first time in many years and the 25% automatic increase would be applied over and above the revaluation which could be several times higher than before.
The ANP said its figures had come straight from its members following a survey of these measures on Portuguese families.