What Is AIMI?
AIMI (Adicional ao IMI — Additional to the Municipal Property Tax) is an annual wealth surcharge levied on the combined taxable value (Valor Patrimonial Tributário, VPT) of all residential properties owned in Portugal. Introduced in 2017 as part of Portugal's move toward a progressive property tax system, AIMI targets owners whose residential real estate portfolio exceeds the €600,000 threshold per taxpayer.
The tax is charged in September each year, alongside the regular IMI (council rates). It is reported automatically by Finanças based on your ownership records — no separate return is required — but you should verify the assessment matches your actual holdings.
Who Pays AIMI?
AIMI applies to individuals (and companies) who, on 1 January of the tax year, hold Portuguese residential real estate with an aggregate VPT above:
- €600,000 — individual taxpayer (or where spouses file separately)
- €1,200,000 — couple filing jointly under the married or civil-partnership regime
The total VPT is the sum of the Caderneta Predial values for all residential properties you own, including apartments, houses, parking garages attached to dwellings, and storage rooms (arrecadações) registered as residential. It does not include agricultural land (prédios rústicos) or commercial premises.
AIMI Rates — 2024 to 2026
The tax is calculated on the taxable base (total VPT minus the threshold) using a progressive scale:
| Taxable base above threshold | Rate |
|---|---|
| Up to €400,000 (VPT €600k–€1m) | 0.7% |
| €400,000–€1,400,000 (VPT €1m–€2m) | 1.0% |
| Above €1,400,000 (VPT > €2m) | 1.5% |
The 0.7% / 1.0% / 1.5% bands are progressive: each portion of the taxable base falls into the corresponding band. Example (single filer, VPT €1,800,000):
- Taxable base: €1,800,000 − €600,000 = €1,200,000
- Band 1: €400,000 × 0.7% = €2,800
- Band 2: €800,000 × 1.0% = €8,000
- Total AIMI: €10,800
Couples and AIMI
If you and your spouse or civil partner file taxes jointly (tributação conjunta), the AIMI threshold doubles to €1,200,000. This means a couple owning €1,100,000 of residential real estate between them pays zero AIMI, whereas two individuals each owning €550,000 separately would also pay zero. However, a couple owning €1,300,000 jointly would have a taxable base of €100,000 × 0.7% = €700 AIMI.
Note that if you hold property in separate regime (separação de bens), each spouse's individual VPT is assessed separately against the €600,000 single threshold.
AIMI and Companies
Legal entities (companies, partnerships, trusts, etc.) holding residential property in Portugal are subject to AIMI at a flat rate of 0.4% on the full VPT — no threshold and no progressive bands. Entities domiciled in listed tax havens pay 7.5% flat. This is a powerful anti-evasion measure that makes holding Portuguese residential property through an offshore structure very expensive.
Deducting AIMI Against IRS (Rental Income)
If you rent the property generating AIMI and declare rental income under Category F of IRS, you may deduct the AIMI paid against the rental income. This is particularly valuable for higher-value portfolios: AIMI on a €2m portfolio (€12,800/year) can be fully offset if you declare sufficient Category F income.
What Is VPT and How Is It Set?
VPT is the official tax-assessed value of a property, set by AT through a formula that considers location, age, area, quality coefficient, and market adjustment factors. VPT is typically 60–80% of market value for properties in Lisbon and Porto, and can be significantly lower in rural areas. AT revalues properties periodically; you can request an update to your VPT if the market value has dropped materially.
You can find your property's VPT in the Caderneta Predial, accessible online through Portal das Finanças. If you own multiple properties, sum all VPT values to get your AIMI exposure.
How Casa Tracks AIMI Exposure
When you build a shortlist on Casa, the app flags properties where your total portfolio VPT — after adding the new acquisition's estimated VPT — would cross the AIMI threshold. This way you understand the ongoing annual cost before you sign, not after.