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Castro Marim: property tax (IMI) and income tax refund
| Castro Marim | Value |
|---|---|
| IMI on urban property (2025, paid in 2026) | 0.39% |
| IMI on urban property (2026, paid in 2027) | not yet set |
| IMI on rural property | 0.8% |
| Family IMI discount (1 / 2 / 3+ dependants) | €30 / €70 / €140 |
| IRS refunded by the council (2025 income) | 2% |
| IRS refunded by the council (2026 income) | 2% |
How much IMI will I pay in Castro Marim?
IMI is charged on the property's taxable value (VPT), shown on the property record (caderneta predial): IMI = VPT × municipal rate.
Example (illustrative): a home in Castro Marim with a VPT of €100,000.00 pays €100,000.00 × 0.39% = €390.00 a year.
It is paid in May (up to €100), May and November (up to €500) or May, August and November (over €500). Owner-occupied homes and low-income households may be exempt.
Does Castro Marim council refund income tax?
Every council is entitled to up to 5% of residents' income tax (IRS) and decides how much to give back. In Castro Marim, on 2025 income, residents get back 2%: with €2,000 of IRS assessed, that is €40.00. It applies to people whose tax address is in the municipality. See how to file in the IRS tax return guide.
Other municipalities in Faro
| Municipality | IMI 2025 | IRS refunded |
|---|---|---|
| Albufeira | 0.3% | 5% |
| Alcoutim | 0.3% | 5% |
| Aljezur | 0.3% | 5% |
| Castro Marim | 0.39% | 2% |
| Faro | 0.3% | 0.5% |
| Lagoa (Algarve) | 0.36% | 3% |
| Lagos | by parish | 5% |
| Loulé | 0.3% | 5% |
| Monchique | 0.3% | 2.5% |
| Olhão | 0.37% | 1% |
| Portimão | 0.37% | 1% |
| São Brás de Alportel | 0.41% | 0% |
| Silves | 0.3% | 0% |
| Tavira | 0.3% | 2.5% |
| Vila do Bispo | 0.3% | 5% |
| Vila Real de Santo António | 0.45% | 0% |
Frequently asked questions
What is the IMI rate in Castro Marim?
For 2025 IMI, paid in 2026, the rate on urban property in Castro Marim is 0.39% of the taxable property value (VPT). Rural property pays 0.8%.
Does Castro Marim council refund income tax?
Yes. On 2025 income (tax return filed in 2026), the council refunds 2% of the IRS assessed to residents. It is applied automatically in your tax assessment.