Buying a home with tax benefits
Who can benefit?
Young adults aged 35 or younger at the date of closing, who are not considered dependents for IRS purposes in the year of the closing.
First purchase of an urban property or apartment meant exclusively for personal and permanent living (first home).
Young adults who haven't owned property in the past 3 years.
Tax-exempt properties
Does your property fit this criteria?
Tax-exempt properties
Does your property fit this criteria?
Tax-exempt properties
Does your property fit this criteria?
Some extra details
Keep in mind that:
In the Azores and Madeira, the portion of the IMT not exempted still retains the current benefit. The full exemption applies to amounts up to €395,965.00. A partial exemption applies to amounts between €395,965 and €791,816 (on the portion exceeding €395,965.00).
Young adults are exempt from property registration costs when buying their first home for permanent residence. The discount is €225 for the acquisition registration and €450 for acquisition and mortgage. If there are two buyers and only one qualifies, the discount is halved.
The IMT calculation considers the number of buyers. For example, in a purchase made by 2 people, one buyer might be eligible for this regime, while the other is not.
In the Azores and Madeira, the portion of the IMT not exempted still retains the current benefit. The full exemption applies to amounts up to €395,965.00. A partial exemption applies to amounts between €395,965 and €791,816 (on the portion exceeding €395,965.00).
The IMT calculation considers the number of buyers. For example, in a purchase made by 2 people, one buyer might be eligible for this regime, while the other is not.
Young adults are exempt from property registration costs when buying their first home for permanent residence. The discount is €225 for the acquisition registration and €450 for acquisition and mortgage. If there are two buyers and only one qualifies, the discount is halved.
