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Spanish housing rates and annual property taxes

Spanish housing rates and annual property taxes

Spanishyearly property Tax: The Property Tax (known asIBI) is fixed by the local authorities, depending on both the value of the landand of the property itself. This Spanish tax is paid yearly, and you can eithergo to the local tax office and pay it directly when you receive the yearly notice in your postbox, or you can arrange for it to be paid automaticallyfrom a Spanish bank account (the best option if you do not live permanently inSpain).

You will be able to find out how much it is from the estate agent or seller you are dealing with at the time of purchase of the house in Spain, but the amount increases slightly each year.

One of the papers required by law in any property sale in Spain is proof of payment of the previous year's property tax which must be produced in this case by thevendor.

Spanish yearly rates: House-ownersin Spain are also required to pay yearly rates, which is a contribution to streetlighting, maintenance of facilities and rubbish collection. The yearly amountagain depends on the area and is paid to the local council.

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