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Owners of empty and abandoned buildings to start being charged “aggravated rates”

Owners of empty and abandoned buildings to start being charged “aggravated rates”

President Marcelo has approved a government proposal to charge owners of empty and abandoned buildings up to six times the normal municipal rates (IMI).

Say reports, Marcelo has ‘doubts over the efficacy’ of the new policy, but his approval means the regime will come into effect from next year.

Further shocks for owners include the progressive hike of increased rates by 10% for every year their buildings remain unoccupied.

Explains Correio da Manhã, the impetus behind the policy is to solve “habitational problems in areas of urbanistic pressure”, particularly large cities.

Read more in the Algarve Resident