The amount estimated for next year represents an increase of around €13 million compared to the budget of 2023, which encompassed a total of €175.8 million and place emphasis on supporting people, families and companies.
“The Loulé City Council approved, in majority, the 2024 budget for Grandes Opções do Plano (GOP), at the meeting on 27 November, with health, social intervention, housing and strengthen the water and sanitation network in the municipality” said the municipality in a statement.
The proposal will still be submitted to the Municipal Assembly, on 15 December and at the beginning of next year there will be the integration of other revenues resulting mainly from the management balance, which will increase the final value to €248.2 million, quantified the Chamber chaired by Vítor Aleixo (PS).
The mayor considered that the executive’s budgetary policy aims to promote people’s quality of life and develop a “climate and social justice strategy” that guarantees a “dignified life”.
“Investments in equipment and infrastructure are high, at a value that will amount to €107.4 million, boosting term structuring investments that will be reflected across future generations”, highlighted Vítor Aleixo.
Housing, with a total investment of more than €11 million, health and mobility which exceeds five million euros, are other priorities for the executive.
“The largest public project in the municipality is already in the public phase, budgeted at a total of €26 million, for the requalification of the coastal area of Quarteira and Vilamoura, with a new multi-purpose building that will house the future Municipal Market of Quarteira”, stated the municipality.
The chamber also highlighted the investment in the Quarteirão Cultural in the center of the city of Loulé, with a budget of €15.5 million and in terms of taxation, it foresees a reduction in the Municipal Property Tax (IMI) by 30 percent in its parishes from the interior (Alte, Ameixial, Benafim, Querença, Salir and Tôr).
The family IMI will also be applied (reductions of €30, €70 or 140€), which will once again waive the entire Personal Income Tax (IRS), not taxing the 0.5 percent (value minimum) of the participation of citizens with tax domicile in this territory, relating to income of the year 2023.