IMI
Printed From: Albufeira.com
Category: Living in Albufeira / Viver em Albufeira
Forum Name: Algarve Foreign Residents / Residentes Estrangeiros
Forum Description: Meeting Point / Ponto de Encontro
URL: https://albufeira.com/forum/forum_posts.asp?TID=9961
Printed Date: 27/December/2024 at 08:35
Software Version: Web Wiz Forums 12.03 - https://www.webwizforums.com
Topic: IMI
Posted By: LIBBY
Subject: IMI
Date Posted: 13/December/2017 at 13:54
Has anyone asked for an IMI valuation review by the Camara, due to the age of their property ?
We have owned our apartment for 12 years, the valuation has not changed over that time. Working on the assumption that a 20 yr old apartment is possibly worth less than a 7 yr old apartment, it is likely that the Camara will review and reduce our valuation ?
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Algarve - The closest thing to heaven !
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Replies:
Posted By: DICEYUK
Date Posted: 13/December/2017 at 16:02
Wouldn't think that the age of a property makes much difference, if any, especially as it's only 20 years old which is not really all that old.
Surely from the Camara's point of view the value is based on size, number of beds, sq footage and location, pretty much the same way the UK Council tax is calculated.
From a re-sale point of view the condition would make a difference especially if it has recently been modernised - new kitchen, bathroom etc.
I thought property's got revalued by the Camara approx. every 10 years or so. We've had ours since 2002 and it was revalued in 2012.
If you can get hold of a copy of your Caderneta Predial Urbaba, available from the Financas website, it will tell you when it was last revaluated and the value.
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I hate how peopleï compare Frank Zappa to God. I mean, he's cool and great and nice and everything, but he's no Zappa.
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Posted By: cubsur
Date Posted: 13/December/2017 at 18:46
Mine was revalued in 2008 or 2009 as part of the general review. My IMI went up as my enclosed balcony was considered as an additional room!
Age isn't usually a consideration I agree.
I would never ask any council to revalue. They are highly unlikely to reduce it unless you have knocked something down. And even less likely now that property prices are increasing.
Do as Dicey suggests to put your mind at rest. At least until they come round your area next time.
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Albufeira Resident
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Posted By: LIBBY
Date Posted: 14/December/2017 at 19:09
Thanks Diceyuk and Cubsur for your replies.
This was suggested a Portuguese neighbour, however we were sceptical and worried that (as you suggested), our IMI might increase rather than decrease.
We will have a look on the finances website as suggested.
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Algarve - The closest thing to heaven !
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Posted By: Algarveaddick
Date Posted: 14/December/2017 at 22:19
I can see why they might think that, as sales value of properties IS influenced by age when you look in the estate agents.
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Go away Duchatalet
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