Rondonópolis proposes tax cuts to stimulate real estate market

The municipality of Rondonópolis has introduced two legislative proposals, ‘Regulariza’ and ‘Avança Rondonópolis’, aimed at stimulating the local real estate and construction sectors through tax incentives. The plans were presented to the South Mato Grosso Construction Industry Union (Sinduscon Sul MT) and are expected to be voted on by the City Council by the end of October.

The ‘Regulariza’ program focuses on property regularization for low and middle-income residents. It proposes reducing the Real Estate Transfer Tax (ITBI) from 2% to 0.5% for those who purchased properties from developers but have not yet transferred the deeds. Additionally, it seeks to waive interest and penalties on overdue Property Tax (IPTU) for these properties.

The ‘Avança Rondonópolis’ program targets developers and new construction projects. It includes reducing the ITBI from 2% to 1% for the acquisition of large land areas (glebas) for new developments. It also proposes a full IPTU exemption for up to three years during the construction phase, followed by a discount of up to 8% on IPTU for three years once the units or lots are completed.