Discover how Asset Value affects the future of your home and your portfolio

Reading Time: 4 minutes

Buying a house is always accompanied by the payment of taxes and fiscal charges. These charges are related to the transfer of the property: Municipal Tax on the Onerous Transfer of Real Estate (IMT) and Stamp Duty, and to the ownership of the property: Municipal Property Tax (IMI).

Thus, to calculate the amount of these taxes, it is necessary to assign a value to the property. This is the Taxable Patrimonial Value (VPT).

This value is assigned by the Tax and Customs Authority (AT) to urban and rural properties (buildings and land). It is determined through the valuation of the properties, which takes into account the location, area, year of construction, type of use, and other relevant aspects of the property.

1. What determines the Patrimonial Value?
2. What is it used for?
3. Where can I check the Patrimonial Value?
4. How and when is it updated?

1. What determines the Patrimonial Value?

The VPT is determined based on a formula defined in the Municipal Property Tax Code (CIMI):

Each acronym represents a factor that influences the value assigned to the property:

• Vc (Base value of built properties): average construction cost per square metre, defined annually by the Tax Authority;

• A (Gross built area + area exceeding the footprint area): includes the living area and additional areas (garages, storage rooms, and attics);

• Ca (Use coefficient): varies according to the use of the property (residential, commercial, services, industrial);

• Cl (Location coefficient): depends on the area where the property is located, accessibility, and available services;

• Cq (Quality and comfort coefficient): considers elements such as elevators, swimming pools, or private parking;

• Cv (Age coefficient): assesses the age of the property, reducing the VPT as the property gets older.

2. What is it used for?

The Taxable Patrimonial Value is essential for the calculation of taxes. It is used to calculate the IMI, whose amount is a percentage of the VPT. The tax rate varies between municipalities.

Stamp Duty and IMT are taxes paid at the time of purchasing a property and are also calculated based on the VPT value (if the latter is higher than the selling price). If the selling price is higher than the VPT, the taxes are calculated based on the selling price.

The Taxable Patrimonial Value is essential for determining how much you will have to pay in taxes on your property.

It can also affect the calculation of Capital Gains if you decide to sell your property. The taxable profit can be calculated based on the difference between the purchase price and the updated Taxable Patrimonial Value.

3. Where can I check the Patrimonial Value?

The process of checking the Patrimonial Value is quite simple. You just need to access the Finance Portal and consult the Property Register of the property. This document contains all the information about the property valuation and can be obtained by following these steps:

1. Access the Finance Portal
2. Select Citizens > Services > Properties > Property Register
3. Enter the property details
4. Parish: locality where the property is registered for tax purposes
5. Article number: unique identifier of the property in the AT's property matrix
6. Fraction: applies to properties in horizontal ownership and identifies the specific unit within the building
7. Generate and download the Property Register.

You can also access this information at a Tax Office.

4. How and when is it updated?

Automatic update made by the Tax Authority

The automatic update of the Patrimonial Value occurs every three years, but only a currency devaluation coefficient is applied. The remaining coefficients, such as the age coefficient (property age), are not automatically reviewed, which can cause the VPT to remain high, even if the property is already several years old.

Revaluation request by the owner

The revaluation of the Patrimonial Value can be requested free of charge every three years by filling in IMI Form 1 on the Finance Portal. However, if the owner disagrees with the new assigned value and wants to request a second valuation, this will incur associated costs.

What can make the VPT decrease?

• The house is already very old and the age coefficient has not been updated;
• The area has lost infrastructure or services that valued the location;
• The property has characteristics that justify a lower quality and comfort coefficient.

 What can make the VPT increase?

• Improvements to the infrastructure of the surrounding area (new transport, schools, hospitals);
• Works on the house that increase the comfort and quality of the property;
• Change in the table of coefficients used by the Tax Authority.

Keeping an eye on the VPT allows you to anticipate the taxes to be paid and request a revaluation to correct possible discrepancies. Therefore, knowing this value is essential to ensure that you meet all your tax obligations.

Article by Isabel Meireles by LEILOSOC® dated September 10, 2025