In Portugal the current applicable taxes are as follows:
Property Tax (IMI)
The Property Tax (IMI) is the tax to be paid to the council, also known as council tax. It is a percentage of the property value, which is decided by the council.
The tax ranges from 0.4-0.5 percent per year, depending on the council.
Rental Income Tax
When you own a property that you are renting out, you need to pay tax on the income.
For Portuguese residents, the rental income is added to the wage and together the income will altogether be taxed as usual.
For non-residents this is different. A non-resident that rents out a property longterm, pays 28% tax over the income of the property, minus costs. A non-resident that rents out a property short term (holiday let), pays 28% tax over only 35% of the income. 65% of the income is tax free.

More information
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