Belém offers 50% ITBI discount for property regularization until July 31

The municipality of Belém is offering a 50% discount on the Imposto sobre a Transmissão de Bens Imóveis (ITBI), a tax on the transfer of real estate, to encourage property regularization. This incentive is available until July 31 and applies to both previously purchased properties that have not yet been registered and new property acquisitions made within the law's established timeframe. The initiative aims to help citizens who possess properties with only deeds or purchase agreements, without definitive registration in their names, a situation described by municipal finance secretary Marcos Matos as involving many 'pocket contracts'.

The benefit is structured for two main groups: individuals who purchased property in the past but have not completed the registration process, who will receive a 50% ITBI discount along with forgiveness of interest and fines until July 31; and those making new property purchases, provided the ITBI request and payment are completed within 60 days of the transaction. Taxpayers can obtain the necessary tax forms either at the Municipal Finance Secretariat's (Sefin) Customer Service Center or online. Approximately 2,000 taxpayers have already utilized this discount, according to city hall figures.

ITBI is a mandatory municipal tax required for the official transfer of property ownership at the notary's office. Failure to pay prevents the buyer from completing the registration, leaving the property legally under the previous owner's name, which can create legal insecurity. For instance, a property valued at R$200,000 could see a tax reduction of up to R$3,000, a significant saving that can be allocated towards other essential documentation costs, such as the deed and registration fees, as highlighted by a beneficiary, public servant Dulce Vale.