IPTU collection will end for this group of Brazilians; check out!

IPTU is a mandatory tax that reappears every year. Fortunately, a new group of people can free themselves from this obligation. Check out!

Have you heard the news? In 2024, a significant change in IPTU brings financial relief to a group of Brazilians.

Get ready to discover how total exemption from IPTU can bring more peace of mind and financial stability to many families!

If you meet some specific rules, know that you can be free from IPTU from this year onwards. Understand! / Credit: @jeanedeoliveirafotografia / pronatec.pro.br

After all, what is IPTU?

The Urban Property and Territorial Tax (IPTU) is a Brazilian municipal tax charged annually on urban properties.

In short, it applies to houses, apartments, stores, land and any other property within an urban area.

Typically, city halls charge it to finance public services such as health, education and infrastructure.

How much does IPTU cost?

Basically, the cost of IPTU varies significantly depending on the city, the location of the property and its market value.

To better understand, the market value is determined by the city hall based on criteria such as size, location and use of the property (residential or commercial).

Some cities apply progressive rates, that is, the higher the value of the property, the higher the tax rate.

Discounts may occur for cash payments or for properties with specific characteristics and the value may be updated annually, according to municipal policies.

New group of Brazilians will receive IPTU exemption

Initially, some Brazilian municipalities are adopting a total exemption from this tax for the older population, recognizing the financial difficulties faced by this age group.

Therefore, the proposal for a total exemption from IPTU for the elderly is a welcoming initiative that recognizes the financial difficulties faced by many in old age.

This measure seeks to ease the burden of taxes on those who often have high health and personal care expenses.

Initiative in Rio Preto

Councilor Cabo Júlio Donizete, from São José do Rio Preto, SP, presented a bill that proposes a total exemption from IPTU for the elderly.

This project aims to change the current reality, where elderly people are only entitled to a 50% discount on the tax amount. In other words, from this, there may be another financial benefit for this class of people.

Find out more: Maybe you may be entitled to IPTU exemption and you don’t know it; learn to request

Criteria for IPTU exemption

To benefit from the total exemption, elderly people in Rio Preto must meet specific criteria, such as having a single property in their name, which is used exclusively for residence and having an income of up to two minimum wages.

These criteria ensure that the benefit reaches those who really need it. To request participation in the initiative, contact the city hall.

Other exemption rights for the elderly

In addition to exemption or discounts on IPTU, in some regions, seniors are also entitled to other offers on different benefits. Check out:

Exemption from Income Tax at Source: seniors aged 65 and over can benefit from exemption from Income Tax on a portion of their income, specifically retirement, pension or retirement; Exemption from driver’s license renewal fees: in many states, elderly people are entitled to exemption from fees charged for renewing their National Driving License (CNH); Exemption from union contributions: retired elderly people are exempt from union contributions, which is an annual amount deducted from workers to finance unions. This exemption applies to elderly people who are no longer in paid employment.

Find out more: IPTU exemption guaranteed for more than 22 million Brazilians; Find out how to get it too!

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