IPTU (Imposto Predial e Territorial Urbano)

IPTU (Imposto Predial e Territorial Urbano) is a property tax in Brazil levied annually on urban real estate, including land and buildings. It funds municipal services like infrastructure, sanitation, and urban planning. The amount is based on the property's assessed value, location, size, and use, with rates set by local authorities. Property owners are responsible for paying IPTU, which helps maintain and improve urban areas. It is similar to property taxes in other countries but tailored to Brazil's municipal regulations and assessment methods.