# A house's property ?



## azoreseuropa (Nov 10, 2013)

I am asking for property tax annual how much ? The house is worth 65 thousand euro in Azores.. Not in Portugal. Since Portugal and Azores's property tax annuals are different, I believed.

Anybody know how much tax is annual property for 65 thousand euro house ? I am curious.


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## canoeman (Mar 3, 2011)

It doesn't work on the value of the property but on the TAX VALUE (VPN) of the property which is calculated to set formula, when a property is sold it is automatically revalued, you need to ask what the current IMI is and when was the property revalued and whether as a new buyer you get any free years IMI


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## azoreseuropa (Nov 10, 2013)

Hi again.

No, I do not mean the propety's value.. A house itself I saw on Azores through real estate that sell for 65 thousand euro and its very good looking and everything. Its in Azores (Açores) I want to buy it when I am living there but I just want to know how much do I pay the vat of that property every year?

For an example, here in Florida is 90 thousand usd and the property for every year about 1,700 usd.


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## canoeman (Mar 3, 2011)

That's what I said the* IMI or annual property tax are NOT based on the purchase value of a property* but on it's* TAX VALUE (VPN)* this value is worked out by Financas using a formula that takes into account various factors of the house like size, number of floors, double glazing etc

Think you should be asking your family in Açores some of these questions or agents advertising house they would have the specific answers for things different to maiunland


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## azoreseuropa (Nov 10, 2013)

Obrigado!

By the way, the 1,7000 usd tax property is not correct. My apologises.. Its over 2,700.


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## canoeman (Mar 3, 2011)

bearmon2010 said:


> Obrigado!
> 
> By the way, the 1,7000 usd tax property is not correct. My apologises.. Its over 2,700.


Presume your referring to IMT & IS when you purchase a property
IMT is on a sliding scale on the selling price of a property
IS is a straight percentage on the selling price of a property


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## azoreseuropa (Nov 10, 2013)

canoeman said:


> Presume your referring to IMT & IS when you purchase a property
> IMT is on a sliding scale on the selling price of a property
> IS is a straight percentage on the selling price of a property


I am not sure what you mean.

What I mean 2,700 is a property tax that you have to pay every year.. You can pay monthly if you want so you do not have to pay the whole 2,700 every year instead. 

America's property are very expensive. I am sure that Azores/Portugal property are lower than America.


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## Domicilium (Jul 20, 2013)

you need to go to your local finances and ask about that. The price you have paid has nothing to do with the tax value, the finances itself evaluate yout property and then gives you a IMI value.


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## azoreseuropa (Nov 10, 2013)

Hi! Sorry about the confusion. No, I mean that I do not have a house but I want to buy a house that worth between 65 thousand to 80 thousands. I want to know the land lot tax annual.


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## canoeman (Mar 3, 2011)

*Repeat again* you need to find out the *Tax Value (VPN)* for the property it is a *TOTALLY* different value to the PURCHASE PRICE


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## canoeman (Mar 3, 2011)

Let me try and make this simple for you, I'm using a friends proprty as an example as it is closer to the house price you are quoting for Azores

Property value on the market 110,000€
*Tax Value (VPN) is 25,599.08€* 
IMI rate of taxa for *this *Camara is 0.30%
so yearly IMI is currently
IMI 25,599.08 x 0.30%= 76.80€ per year paid in April each year

What you must check is the 
VPN value of the property
The IMI Taxa for the Azores
Any free years you might be entitled to as a NEW Resident


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