The amount collected through this tax, which is applied when there is a change of ownership of a property (purchase and sale, exchange of property, granting of usufruct or transfer of contractual position of buyer), in the first two months of this year compares with the 393.7 million euros recorded in the same period in 2023 and is also below the 269.2 million euros in 2022.
The behavior of IMT revenue at the beginning of this year maintains the downward trend felt in 2023, the year in which the continuous increase registered since 2011 and which was only interrupted in the initial year of the covid-19 pandemic (2020) was interrupted.
In 2023, IMT generated a total of 1,694.8 million euros in revenue, 1.7 million euros less than a year before.
In 2018, IMT surpassed the barrier of one billion euros in revenue for the first time and in 2022 it surpassed that generated by the Municipal Property Tax (IMI) for the first time.
The rules of this tax determine that it is calculated on the amount of the transaction or the tax asset value (VPT) of the property, focusing on the higher of the two.
There is an exemption from IMT when the house is intended for permanent housing, which is applicable up to 101,917 euros, with marginal rates applying above this value.
IMT and IMI are revenue from local authorities, but are charged by the Tax and Customs Authority (AT).
