The mayor of Teresina, Silvio Mendes, introduced changes to the Urban Property Tax (IPTU) for the year 2026 during a public announcement on Wednesday, addressing residents' concerns about rising taxes. The changes aim to mitigate the negative impacts of the new General Value Plant (PGV), which serves as the basis for tax calculations. Under the new plan, the expected revenue from IPTU is projected to drop dramatically from R$147 million to around R$22 million this year, reflecting a significant reduction in taxpayer burden.

In his remarks, Mendes highlighted that while Teresina has 374,000 properties, less than half of them are expected to contribute to the IPTU payments this year. He pointed out that the revenue gathered from the tax will not even cover basic city services such as waste collection and general city maintenance. To address these financial concerns, he proposed extending the payment period for the tax to ten years, which will allow taxpayers more time to fulfill their obligations without facing immediate financial strain. This extension is coupled with a barrier clause, clarifying that it is not a tax exemption but a modification of payment terms.

These changes reflect an effort from the local government to balance fiscal responsibilities with public sentiment. By significantly lowering the tax burden, the administration aims to gain public approval and ensure the city can maintain essential services, despite the anticipated drop in revenue. The future implications of this policy will be closely monitored by both taxpayers and city officials to assess its impact on the local economy and public service sustainability.