Key points
- INSS pensioners and pensioners are entitled to exemption from the IPTU;
- To be eligible for the IPTU 2024 exemption, certain prerequisites must be met;
- The property cannot be worth more than a sum predetermined by the Municipality.
Owners of buildings in the urban perimeter must honor the payment of the Urban and Territorial Property Tax. However, there are some scenarios and audiences that are entitled to exclusive conditions when paying IPTU 2024 and even exemption.
IPTU 2024: Pensioners and retirees get exclusive payment terms. (Image: FDR)
This is the case of pensioners and pensioners of the INSS (National Institute of Social Security). This public is entitled to exemption IPTU 2024. However, it is important to underline that the conditions of free admission may vary from municipality to municipality.
Therefore the recommendation is that INSS pensioners ask for information from the municipal administration responsible for collecting the tax. As with any other benefit, certain prerequisites must be met to be eligible for the IPTU 2024 exemption.
While they may vary from one municipality to another, there are some factors that have become standard across the country. An example is the rule according to which, in all municipalities, pensioners or pensioners of the INSS can have only one property registered in their name.
In other words, anyone who owns more than one property, commercial or residential, will not be entitled to exemption from the IPTU 2024. Another rule is that those insured by the municipality cannot have a monthly income exceeding five minimum wages.
Furthermore, the property cannot be worth more than an amount predetermined by the Municipality. In most cities, the limit is between R$800,000 and R$1 million, although there are exceptions. You can find all the details about the 2024 IPTU exemption for INSS pensioners below.
IPTU Exemption Rules 2024 for INSS Pensioners
- Do not own another property in the municipality;
- Use your only property as a residence;
- Monthly income not exceeding 3 (three) minimum wages for the year to which the request refers, with total exemption;
- Monthly income between 3 (three) and 5 (five) minimum wages for the year to which the request refers, in partial exemption;
- The property must be part of the applicant’s assets;
- The market value of the property is up to R$ 1,256,424.00.
IPTU Exemption Forms 2024
Before being approved, the citizen’s request will be subjected to an analysis which will allow total or partial exemption from the tax. The decision will depend on the income presented by the insured.
- Total exemption: will be granted if the amount of income, without discounts, is up to three minimum wages (R$ 3,117.00 in January and R$ 3,135.00 from February);
- 50% discount: if the value of the income, without discounts, is equal to three or four minimum wages (between R$ 3,117.00 and R$ 4,146.00 in January 2020, or R$ 3,135.01 to R$ 4,180, 00 starting from February);
- 30% discount: if the value of the income without discounts is equivalent to 4-5 minimum wages (between R$ 4,156.011 and R$ 5,195.00);
How to apply for IPTU 2024 exemption?
If you meet the requirements presented above and wish to request tax exemption, you should know that the procedure takes place at the town hall of the municipality in which the property is located. To request exemption you must bring the following documents with you:
- Copy of identity document;
- Copy of the CPF;
- Copy of proof of income;
- Copy of proof of residence;
- Certificate of the market value of the property.
Understand how IPTU 2024 works
IPTU is the tax levied on properties built in urban areas, meaning it is charged annually to owners of homes, buildings or businesses in a city.
Considering that it is levied on each property, taxpayers who have more than one property registered in their property must bear the costs of all of them. If you own five properties, you will have to pay five IPTUs.
It is important to underline that if the property is urban, but only owns the non-buildable land, the urban land tax (ITU) will be paid. However, if the land is located outside the urban boundary, the applicable rate is Rural Land Tax (ITR). Both have different calculation bases and tax rates for the IPTU.
IPTU value 2024
The value of the IPTU 2024 varies according to municipal legislation, which establishes rates based on the market value of the property. These rates, differentiated by type of property, can lead to higher taxes for houses than, for example, land.
The specific legislation of each city determines the applicable rates, directly impacting the amount of tax to be paid. IPTU 2024 considers the market value, determined by the municipality based on an evaluation that takes into account the structure per square meter built.
Properties on well-located streets, with infrastructure such as lighting and sanitation, can have higher valuations. This directly influences the calculation of the tax to be paid, creating a relationship between the location and characteristics of the property and the IPTU value.
The calculation to arrive at the final value of the IPTU 2024 is constructed as follows:
- Market value of the property x tax rate for its category = IPTU value.
You can check both your property’s assessed value and tax rates on your city’s city hall website. Furthermore, anyone who wants to contest the market value of their property will have to submit a document to the Municipality.
How to calculate IPTU 2024?
The IPTU is a tax charged by each municipality. Therefore rates vary from place to place and may follow different payment and exemption rules.
Some important factors in defining value are:
- Location of the property.
- Size of the built area.
- Size of the land.
- Quality of finishes used in construction.
- Municipal services available at the property location, such as cleaning services and wastewater treatment.
In summary we can say that the IPTU calculation must consider these factors to define the sale value of the property. It is then possible to carry out the calculation by multiplying this amount by the tariff applied by each municipality.
In Belo Horizonte, for example, if you are responsible for paying the IPTU on a property that costs R$300,000, you must apply the rate of 0.70% (amount provided by the municipality).
Therefore the calculation to be made is: R$300 thousand x 0.70% = R$2,100. Therefore, the IPTU value for the example property will be R$2,100 for the year.
Laura Alvarenga
Laura Alvarenga graduated in Journalism from the Centro Universitário do Triângulo of Uberlândia – MG. He began his career in communications consultancy, spent a few years working in small local print newspapers and is now committed to a career in online journalism through the FDR portal, where he researches and produces content on economics, social rights and finance.
2024-01-13 12:30:36
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