Most people buying property in Portugal budget carefully for IMT at purchase and IMI every year — and then discover a third tax exists. AIMI — the Adicional ao Imposto Municipal sobre Imóveis — is Portugal's answer to a property wealth tax: an annual surcharge on higher-value real-estate holdings. For a single ordinary home it usually never applies. For anyone building a portfolio, owning a high-value property, or holding through a company, it matters a great deal. Here's exactly how the 2026 figures work.
What AIMI Actually Taxes
AIMI is charged once a year on the aggregate taxable value of your Portuguese property — the sum of the Valor Patrimonial Tributário (VPT) of everything you own — above a tax-free allowance. The key word is aggregate: AIMI looks across your whole holding, not property by property. It sits on top of the ordinary IMI, which every owner pays regardless.
Note that AIMI is assessed on the VPT (the value Finanças assigns), not the market price you paid. The two can differ significantly, so a property's headline price is not a reliable guide to whether AIMI applies.
The Allowance: €600,000 per Person, €1,200,000 for Couples
Every individual taxpayer (and each undivided inheritance) gets a €600,000 deduction before AIMI applies. Married couples and those in a união de facto may opt for joint taxation, which doubles the threshold to a €1,200,000 deduction on their combined holdings.
This is why most owners of a single home never see an AIMI bill — the VPT of an ordinary home rarely clears €600,000 per person on its own.
The Individual Rates — 2026
For individuals, AIMI is progressive above the allowance:
| Aggregate VPT above the allowance | AIMI rate |
|---|---|
| Base rate (above the €600,000 allowance) | 0.7% |
| Portion between €1,000,000 and €2,000,000 | 1.0% |
| Portion above €2,000,000 | 1.5% |
The higher marginal rates apply only to the slices in those bands — the tax is layered, not a single flat rate on the whole value.
The Company Rate
Property held by a company (legal person) is taxed differently: a flat 0.4% on the aggregate VPT, with no personal allowance. This is a critical point for anyone considering holding Portuguese property through a corporate structure — the €600,000 shelter that individuals enjoy simply doesn't exist for companies, though the flat rate is lower. Whether individual or corporate ownership is more efficient depends entirely on the numbers, and it's exactly the kind of question worth modelling before you buy.
You can see all of these rates and the allowance, dated and sourced, on our verified property-tax dataset.
Worked Examples
A single owner with a €750,000-VPT apartment.
- Allowance: €600,000
- Taxable AIMI base: €150,000
- AIMI: €150,000 × 0.7% = €1,050/year (on top of ordinary IMI).
A couple (joint option) with combined VPT of €1,100,000.
- Allowance: €1,200,000
- Taxable AIMI base: €0
- AIMI: €0 — the joint allowance covers the whole holding.
A company holding property with aggregate VPT of €1,000,000.
- No allowance
- AIMI: €1,000,000 × 0.4% = €4,000/year.
These illustrate the structural point: the same €1,000,000 of VPT is sheltered for a couple, lightly taxed for an individual, and taxed from the first euro for a company.
AIMI and the Wider Property Tax Picture
AIMI is one of several taxes stacked on Portuguese property ownership. It helps to see them together:
- IMT — the one-off transfer tax at purchase. See our IMT property transfer tax guide.
- IMI — the ordinary annual municipal tax, 0.3%–0.45% for urban property. See our IMI guide.
- AIMI — this additional annual surcharge on higher-value holdings.
- Stamp duty — 0.8% on the purchase, plus other verbas.
For a full walk-through of how IMI and IMT interact, our property taxes overview ties the annual and one-off taxes together.
Common Mistakes
- Assuming AIMI applies to your primary home. It usually doesn't — the €600,000 per-person allowance shelters most ordinary homes.
- Confusing market price with VPT. AIMI is charged on the VPT, which is often well below the price you paid.
- Overlooking the company rate. Corporate ownership loses the personal allowance and is taxed from the first euro at 0.4%.
- Forgetting the joint option. Couples should model individual vs joint taxation before filing.
When to Get Advice
If your Portuguese property (or your plans for it) push the aggregate VPT anywhere near €600,000 per person, AIMI stops being theoretical. The interaction between the individual allowance, the couple's joint option and corporate ownership is precisely where a modelled decision saves real money — especially before you commit to an ownership structure at purchase.
Building a property portfolio in Portugal, or unsure whether to hold personally or through a company? Our tax consultation service models your AIMI exposure and ownership structure before you sign. Every figure here is on the verified property-tax dataset.
Frequently Asked Questions
AIMI (Adicional ao Imposto Municipal sobre Imóveis) is an annual 'wealth-style' surcharge on high-value Portuguese property. It is charged on top of the ordinary IMI, on the aggregate taxable value (VPT) of a person's or company's Portuguese real estate above a tax-free allowance. For individuals the allowance is €600,000 per taxpayer; married or união-de-facto couples can opt for joint taxation and double it to €1,200,000.
For individuals, AIMI is charged at 0.7% on the aggregate VPT above the allowance, rising to 1% on the portion between €1,000,000 and €2,000,000, and 1.5% on the portion above €2,000,000. Companies pay a flat 0.4% on the aggregate VPT of their property (with no personal allowance).
Most owners of a single ordinary home never pay AIMI, because the tax only bites on the aggregate VPT above €600,000 per person (€1,200,000 for a couple opting for joint taxation). It is a tax on higher-value or multiple-property holdings, not on a typical primary residence. Whether it applies depends on the official tax value (VPT) of everything you own, not the market price.
No. IMI is the ordinary annual municipal property tax paid by every owner (0.3%–0.45% for urban property). AIMI is an additional surcharge on top, aimed only at higher-value holdings above the allowance. You can owe IMI without ever owing AIMI.
Married couples and those in a união de facto may opt for joint AIMI taxation. Doing so pools their property and applies a single €1,200,000 deduction to the couple's combined aggregate VPT, instead of two separate €600,000 allowances assessed individually. For most couples the result is the same size of allowance, but the joint option can simplify assessment and is worth modelling before you file.