Lisbon intends to use tourist taxes to fund housing

Lisbon intends to use tourist taxes to fund housing

The Lisbon City Council plans to implement a new model for the use of tourist taxes, with the revenue collected being invested in housing.

Though there is little agreement on whether the tourist tax will be used for the aforementioned plans, the debate continues at the Lisbon Assembly.

“Regardless, with or without the tourist tax,” said Lisbon Chamber vice president Filipe Anacoreta Correia, “the area of housing is a priority.”

Deputies in the chamber defended the use of municipal tourist revenue for housing investment, hoping that it will “mitigate the effects of tourism” on the supply and prices of houses in the city, as well as the possibility of increasing the current value of two euros per night.

Carlos Reis, who believes that more taxes will not solve the housing crisis, has spoken out against the proposal. The Assembly anticipates a tourist tax revenue of 32 million euros for a budget of 1,000 million euros.