Homebuyers in Spain are interested in, among other things, the question of property taxes. In Spain, taxes on residential property are lower than in other European countries. However, if the taxation system is misinterpreted, you can spend too much, and it will not matter what kind of housing you own – a small studio or a huge luxury villa.
Taxes are divided into:
- State;
- Regional;
- Municipal.
Tax advice
Each region and municipality has the right to set its own tax rate, not exceeding certain limits.
Therefore, to the amount set aside for the purchase of an apartment or house, it is worth adding another 15 percent, which will go to taxes. As for the annual taxes, they are not high – 0.7-1.6% of the cadastral value of the acquired housing. The tax on new housing and resale property is different.
If housing is rented out, then the tax on such a service is 24% and is calculated from the income received after deducting the cost of maintaining the property.
For citizens of the monarchy and other countries that are part of the European Union, the interest rate is lower and amounts to 19%. The rate for this tax is fixed.
Specialists of Alicante Real Estate will provide full information about all applicable taxes in the country and tell you what to do in order not to become a debtor to the state.
So, tax consultants will tell you in detail how much tax you need to pay when registering the property.
When buying a new home, two taxes are paid – an analogue of the Russian VAT, which is 10%, and a mandatory stamp duty. In different regions, its size varies – 05-1.5%.
Tax consultants Alicante Real Estate will explain in detail to each client how the taxation system works in Spain, what to look for, how much is needed to pay property tax annually.
