Taxable Property Value (VPT)

What Is It?

The Taxable Property Value (VPT — Valor Patrimonial Tributário) is the value assigned to a property by the Portuguese Tax Authority (Autoridade Tributária — Finanças) for taxation purposes.

It represents the property’s official value for the State, which often differs from its real market value or selling price.

What Is It For / Why Is It Important?

Tax Calculation
The VPT serves as the basis for calculating several property-related taxes, including:

• IMI (annual municipal property tax),

• IMT (property transfer tax at purchase), and

• Stamp Duty (Imposto do Selo).

Eligibility for Tax Benefits
Certain exemptions — such as IMI exemption — depend on the property’s VPT and the household’s income level.

Periodic Updates
The State automatically updates the VPT approximately every three years, reflecting inflation and changes in local valuation factors.

Where Can You Check It?

Property Tax Record (Caderneta Predial)
The VPT is clearly stated in this document.

Portal das Finanças
Available free of charge within the owner’s property section (Património).

How Is It Calculated?

The VPT follows a legal formula that considers:

• Base construction value per square metre (defined by the State)

• Gross construction area

• Location coefficient (coeficiente de localização)

• Quality and comfort factors (garage, pool, amenities, etc.)

• Property age, through a depreciation factor (coeficiente de vetustez)

Older properties generally have a lower VPT due to depreciation.

What Does It Cost?

• Consultation: Free via the Portal das Finanças

• Request for reassessment: Free

Owners may request a reassessment if they believe the VPT is too high, potentially reducing annual IMI liability.

Practical Tip: Reassessment

A new VPT evaluation can typically be requested every three years.

If location coefficients decrease or the property ages further, the VPT may be reduced — resulting in lower IMI payments.