The City Hall of João Pessoa has revealed a new provisional measure that offers residents a 30% discount on the Imposto sobre a Transmissão Inter Vivos de Bens Imóveis (ITBI). This significant discount was announced by Mayor Cícero Lucena and is already in effect as of February 10. The measure is set to remain valid until March 13, allowing property buyers to benefit from reduced tax burdens during this time.

Under the new regulation, the discount applies to tax guides that are either already issued or requested within the validity period, encouraging timely payments among homeowners and potential buyers. However, to solidify this measure into law beyond its provisional period, it requires approval from the Câmara Municipal de João Pessoa. The city administration is hopeful that local lawmakers will support the initiative, which aims to stimulate the economy and ease financial pressure on residents involved in property transactions.

The ITBI discount will be calculated on the total amount of the tax without additional deductions, and it cannot be combined with other discounts. If payments are made past the due date but before the end of the provisional measure, late fees will still apply. This initiative reflects the City Hall's strategy to promote real estate transactions and bolster the housing market in João Pessoa amidst ongoing economic challenges.