Definition, Meaning & Synonyms
iptu
Tax
/ip-tu/
Definition
IPTU stands for ‘Imposto Predial e Territorial Urbano’, which is a property tax levied on urban properties in Brazil.
Examples
- The IPTU is calculated based on the property value set by the municipal government.
- Homeowners must pay IPTU annually to ensure they are in compliance with local tax laws.
- Local authorities use IPTU revenue to fund public services such as infrastructure and maintenance.
Meaning
It is a tax imposed by municipalities on property owners for the ownership of real estate located in urban areas.
Synonyms
- Property tax
- Urban property tax
- Real estate tax