VPT and IMI tax for *land*

I’m trying to figure out the annual IMI tax on land (buildable residential urban plot).

The internet is full of advice and calculators for IMI and VPT for buildings, talking about the house occupancy and built area and whether or not there is a lift and pool etc. None of which applies to land obviously.

Can someone help me understand how VPT is assessed for land? And then how to calculate IMI from that?

To make it concrete, let’s say the land is a 2000m2 developed plot in Porto at market value of 700K EUR.

For counting your yearly IMI tax on the land in Porto, you should find out first the VPT (Valor Patrimonial Tributário) for that plot. It is decided using some factors such as market value and where it’s located. When you get the VPT, multiply this with IMI rate which municipality has set up. Having the VPT rate of your locality, you multiply it by 0.0075 to get IMI. This is a simple method, but if you are not certain, it’s good to ask a tax advisor or consult with the local tax office for precise direction.