The average construction value per square meter that is taken into account in the IMI calculation will rise by 38 euros in 2026, from the current 532 euros to 570, according to an ordinance published this Friday, 26, in Diário da República.
“The average construction value per square meter is set at 570.00 euros, for the purposes of article 39 of the Municipal Property Tax Code [IMI]to come into force in 2026”, determines the ordinance signed by the Secretary of State for Fiscal Affairs, Cláudia Reis Duarte, which was published today in Diário da República.
This is the first time that the average construction value has increased since 2023.
As one of the indicators to be taken into consideration when carrying out the asset assessment of urban buildings, for the purposes of calculating the IMI, is the base value of the buildings constructed and the tax code provides that the base value of the buildings corresponds to “the average construction value, per square meter, added to the value of the square meter of the land for implementation set at 25% of that value”, the Government must set this calculation base every year, which it has now done for 2026 in today’s ordinance.
The defined value is set by the executive following a proposal from the National Commission for the Assessment of Urban Buildings, after it has consulted official entities and private associations in the urban real estate sector, as provided for in the IMI Code.
The last time the average construction value was updated was in 2023. That year, the fixed amount rose to 532 euros, increasing 20 euros compared to 2022.
In the following two years, for 2024 and 2025, the fixed value did not change, remaining at 532 euros.
In the ordinance published today in Diário da República, the State Secretariat for Fiscal Affairs recalls that “the IMI Code, approved by Decree-Law no. Urban Buildings, after consulting the entities provided for by law, in accordance with the provisions of paragraph d) of paragraph 1 of article 62 of the same Code”.