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Overview
- Council members approved the bill in a second vote by 30 to 19.
- Lawmakers cut the originally proposed 15% ceiling for commercial properties to 10%.
- Exemptions expand to cover properties valued up to R$150,000 and single-home owners up to R$260,000, with reduced tax for R$260,000 to R$390,000.
- All residences in ZEIS areas receive IPTU exemption through 2030, benefiting about 313,000 properties.
- The 10% cap does not apply to vacant or underused lots, which may face higher adjustments.