Owners of property located in Lisbon who wish to carry out solely restoration work or interior redesign on buildings or independent divisions, that is, not involving modifications to the structure, clearance height, façades or roofs, will no longer be subject to municipal taxes as of next year, according to a new proposed tax regulation pertaining to urban-related activity, which shall be up for discussion tomorrow, during a meeting of the mayor with his city councilors, according to the "Jornal de Negócios" newspaper.

The tax exemption turns out to be a result of the new licensing rules provided for under the Laws and Jurisdiction pertaining to Urbanization and Construction, which went into effect in March of this year. Pursuant to the LJUC, it is no longer necessary to apply for municipal licensing for works of lesser value.

This means property owners will save 168 euros, for repair and rehabilitation work on a 100-square-meter (m2) home as part of a residential complex with common-use areas. Moreover, the owner shall remain exempt from paying the tax for building, maintenance and reinforcement of urban infrastructures (TRIU, or TRUI).