“The 20% reduction applies to properties with contracts registered with the Tax Office, valid for the year of the desired tax benefit. The incentive is provided for in the Law, but its application and the amount of the reduction (which can go up to 20% of the IMI rate) depend on the will of the municipalities, without dispensing with the expression of interest on the part of the owners”, added the local authority.

The proposal, initially approved by the City Council, was approved by the Municipal Assembly, in the context of the various measures that make up the tax package for next year.

“This particular measure, which aims to stimulate the housing rental market and support owners who put their real estate assets to the service of meeting this constitutionally enshrined need, must be requested from the city council services, as its application is not automatic”, warns the City Council.

Therefore, owners interested in being covered by this benefit, who meet the requirements identified above – that is, who have permanent housing rental contracts duly registered with the Tax Authority – must complete and submit, by 29 November, the application that is available through the Online Services (Urban Rehabilitation Section) or do so in person at the Citizen's Office.