Regarding the Municipal Property Tax (IMI) Surcharge (AIMI), "87,793 collection notes were issued for individual and collective taxpayers," an official source from the Ministry of Finance told Lusa in response. In total, these property owners were called on to pay 148 million euros, an amount in line with that collected in 2018, 2019 and 2020, and which represents an increase compared to the 144 million euros that the tax generated in 2021 and 2022. In addition to these figures, there are also the 29,205 settlements of the so-called entries, i.e. properties whose land registry has not yet been updated and is not associated with the owners' Tax Identification Number (NIF), who together paid 325,000 euros for this tax. In 2022, according to the statistical data already published by the Tax and Customs Authority (AT), the IMI Surcharge was paid by 84,396 individual taxpayers and companies. The IMI Surcharge is paid annually, during the month of September, based on the taxable property values of the buildings that appear in the property registers on 1 January of the year to which the tax relates. The AIMI is levied on the sum of the taxable property value (VPT) of urban buildings (including building plots), except for urban buildings classified as "commercial, industrial or for services" and "others". Properties that were exempt or not subject to IMI payment in the previous year are also excluded from the scope of this tax. Aimed at companies and individuals, the AIMI includes different rates for each of these types of taxpayers. While in the case of companies the tax rate is 0.4%, levied on the total property value of residential urban buildings and building plots they own, in the case of individuals three tax brackets are provided: a rate of 0.7% on the property value of properties exceeding 600,000 euros; another of 1% when the value exceeds one million euros; and a third of 1.5% for values above two million euros. Married couples can double the tax-free amount in each of the tax brackets (to 1.2 million euros, two million euros and four million euros) if they choose and inform the AT that they want to be taxed jointly. Properties owned by entities subject to a more favourable tax regime pay a rate of 7.5%. The AIMI is also due on undivided inheritances and can be applied to the entire inheritance or to the share of each heir, if they communicate this intention to the AT, a procedure that must be indicated by the head of the household and confirmed by all the heirs annually. The revenue from the IMI Surcharge is allocated to the Social Security Financial Stabilisation Fund (FEFSS). Read Also: AT settled IMI of 153 dams since 2019 at an average of 5 million (Portuguese version)