Living Costs

[psjd]

Can someone help me with utility costs and general living? We are a family of four looking to move to the port within a year or so and have no idea what living costs we should allow for.
We assume electric, water, contribucion, but could do with a detailed list and rough costing. Also the best places to go for long term rentals too would be great!
Any help gratefully received!
Thank you all so much.

Paul

[MPH133]

we spend

electric - €100pm but only use for 10-14 days pm so you should double that
council tax/rubbish collection €550pa
flat maintenance fees €91pm - lift but no pool
tv/internet with movistar - €62pm
beauty parlour (wife not me!) - €45pm

hope that helps

[pollensa]

For Long Term rentals try the local estate agents - see Rent Villas, Apartments from Agents in Puerto Pollensa, Mallorca Majorca

[mallorcaboy]

MPH123, is this your total expenditure? What about Wealth Tax? (We used to pay this but we weren't living full time I think at that point). Anything else?

[MPH133]

we are not resident in Spain (yet) so dont pay any - and our humble flat is not worth €700,000
Each resident individual has a tax free allowance of €700,000 plus a €300,000 allowance on his own home. If a couple owns a property in joint names, each gets €300,000. Non-residents just receive the individual allowance of €700,000. The tax rates range from 0.2% to 2.5%.

[Gommar Goffer]

what are the healtcare costs? is it done with insurance policies?

Also factor in insurance policies for the property contents (mine is about €200pa)/ vehicle running costs - not sure what they are but cheaper than UK

[mallorcaboy]

Anyone know what broadband without tv would be? Also does Freeview work out there?

[El Gordo]

Originally Posted by mallorcaboy

Anyone know what broadband without tv would be? Also does Freeview work out there?

Freeview using an aerial is not available but Freesat using a satellite dish is, although you need a large dish for this. See other threads for more detailed requirements.

[lollipop]

MPH 133 . As a non resident you should be paying tax each year. It is worked out as a percentage of your cadastral value. It is assumed by owning a property here that you gain some benefits. It is income tax .

[MPH133]

Originally Posted by lollipop

MPH 133 . As a non resident you should be paying tax each year. It is worked out as a percentage of your cadastral value. It is assumed by owning a property here that you gain some benefits. It is income tax .

What about the €700,000 allowance?

[Nick]

What if you don't "gain benefits"?
I.e. I assume by not renting your property??

[El Gordo]

Originally Posted by MPH133

What about the €700,000 allowance?

The 700,000Euro Exemption is the current situation regarding "Wealth Tax"

The tax that Lollipop refers to is a tax levied on non resident owned property that is claimed as non renting!! This is based on the Cadastral value.

Spanish tax law requires that non-resident owners of property in Spain have to pay Spanish income tax even if they have no Spanish earnings such as rental income!!

Have a look at this article from ADVOCO.ES

[mallorcaboy]

When we owned from 1990-2005 but didn't live full time on the island, we did pay what was called a wealth tax. We were told that it was based upon the "assumption" that we rented it out. I can't remember now if we had to fill out a tax return but I don't think we did. I think it was billed to us through our community administrator who at that time was Anna de la Cruz. Are people still being billed for this or have things changed?

[El Gordo]

Originally Posted by mallorcaboy

When we owned from 1990-2005 but didn't live full time on the island, we did pay what was called a wealth tax. We were told that it was based upon the "assumption" that we rented it out. I can't remember now if we had to fill out a tax return but I don't think we did. I think it was billed to us through our community administrator who at that time was Anna de la Cruz. Are people still being billed for this or have things changed?

The "Wealth Tax" and "Imputed Rental Tax" are different taxes although they will have been paid at the same time.

Since you paid, the threshold for paying Wealth Tax was raised and many owners became exempt from this tax. However it still exists and they could lower the exempt values when they want to raise more taxes!!

[its cd]

Originally Posted by mallorcaboy

Anyone know what broadband without tv would be? Also does Freeview work out there?

33euros per month with Movistar - really good can cope with at least 5 people using email Facebook etc concurrently

I think this also includes some landline calls but as we don't have a phone we don't use the allowance so can't confirm details