In a significant tax adjustment, the city of Teresina will exempt approximately 120,000 urban properties from the Urban Property and Land Tax (IPTU) beginning in 2026. This decision affects a substantial portion of the city's real estate, as it aims to reflect the current value of properties based on the updated Plant of Generic Values (PVG). The upcoming changes not only provide relief to property owners but also aim to create a fairer fiscal balance throughout the municipality.

The update to the PVG, which estimates property values based on a range of factors including location and property type, will impact roughly 160,000 properties in total, with 41,000 properties benefiting from reduced tax rates. Previously, about 99,000 properties were exempt from IPTU, highlighting the substantial expansion of property tax relief under the new regulations. This move aligns with the government's efforts to adjust municipal revenue strategies to better reflect the true value of urban properties in Teresina.

Additionally, officials from the city have indicated that the aim of these adjustments is to ensure that property taxation is equitable and justifiable. By revising the estimated values of properties, they hope to encourage homeowner compliance and further fiscal responsibility within the community. As such measures take effect, it will be important for property owners to understand their entitlements and how these changes will affect their financial obligations moving forward.