Begs the question why he was only paying that in the first place, and it’s good to know if we all default on a payment we don’t pay a fine, if we have been paying for 5 years or more.
Governor will now pay 536 euros per year, instead of the previous 99 euros for his property in Ponta Delgada.
Miguel Albuquerque’s luxury villa, located in the parish of Ponta Delgada, suffered a 436% increase in the Municipal Property Tax (IMI), according to Correio da Manhã.
With this new update from the Tax Authority, carried out at the beginning of February, the resigning president of the Regional Government will start paying 531 euros annually for housing by the sea, compared to the previous 99 euros. In other words, the new property, which was built in the same location as an old building that was demolished, was assigned an IMI tax asset value (VPT) of 177,149 euros, compared to 33,214 euros, the VPT value of the previous construction.
“I accept the assessment and I do not intend to contest it”, highlighted Miguel Albuquerque to the morning newspaper, which mentions that the government official paid 120 thousand euros for the purchase of the property’s previous old building.
It is further stated that, due to this house which is currently used for tourist accommodation, Albuquerque was also subject to a fine, for not having complied with the delivery deadline for IMI model 1, but was exempted from the fine by the Tax Authority and Customs, “for not having any tax default in the last five years”.