TAXES TO BE PAID WHEN BUYING A PROPERTY

TAXES TO BE PAID WHEN BUYING A PROPERTY

What taxes are to be paid when buying real estate?

 

When buying a property you will have to pay taxes but also the notary and the register of the property in your name in the register of properties.

 

1 - the IMT (municipal tax)

 

This tax is calculated on the amount of the purchase.
A distinction must be drawn between two scenarios:

A) You buy property that will become your primary residence

In this case goods with a value of less than 92.407 € are exempt from IMT.
The tax is therefore calculated on the value higher than 92.407 €.

Examples:
For a property of 150.000 € the value of the IMT will be 1.859,77 €
For a property of 200,000 € the value of the IMT will be 4,912.81 €
For a property of 250.000 € the value of the IMT will be 8.412,81 €
For a property of 400.000 € the value of the IMT will be 20.040,68 €
For a property of 500.000 € the value of the IMT will be 28.040,68 €
The rate is 6% fixed from 574,323 €

B) You buy a property that will be your second home or that you will rent.

In this case there is no exemption.
Up to a purchase value of 92.407 € the applied rate is 1%.

Examples:
For a property of 90.00 € the value of the IMT will be 900 €
For a property of 150,000 € the value of the IMT will be 2,783,84 €
For a property of 250.000 € the value of the IMT will be 9.336,88 €
For a property of 400.000 € the value of the IMT will be 20.964,75 €
For a property of 500.000 € the value of the IMT will be 28.964,75 €
The rate is 6% fixed from 550,836 €

 

2 - The stamp duty

 

The applied rate is 0.08% on the value of the transaction regardless of the purpose of your purchase 8 main or secondary residence).
No exemption is applied.

Examples:
For a property of 100,000 € the value of the stamp tax will be 800 €
For a property of 200,000 € the value of the stamp tax will be 1,600 €
Etc ....


3 - The notary fees.

 

The notary shall invoice the authentic deed.
It is quite difficult to accurately record the value of the act because parameters such as the page number of the act are taken into account.
As an indication we indicate a value of 300 €.

 


4 - The register on your behalf in the register of properties.

 

Counting 250 €

If you would like more information on this subject please do not hesitate to contact us by email
info@portugalimmobilierinformation.fr