Marília offers temporary reduction in property transfer tax

The city of Marília is conducting a temporary tax incentive program titled ‘ITBI em Dia, sua escritura na mão’, which is scheduled to conclude on September 10. Through the Municipal Secretariat of Finance and Economic Planning, the program reduces the ITBI (Property Transfer Tax) rate by half, dropping it from 2% to 1%.

Local authorities identified a significant backlog of real estate transactions that have been completed between parties but remain unformalized at the Real Estate Registry Office. The reduction aims to encourage taxpayers to regularize these transfers, thereby increasing municipal revenue and stimulating the local real estate sector, including notary services and real estate agencies.