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corky 04-03-2004 20:41

Property Tax
 
Can anyone advise (or point me in the right direction for info) on the property tax laws for non-residents.

Thanks,

Corky

pollensa 05-03-2004 22:27

There are 2 taxes that you need to pay annually to the Agencia Tributaria & our solicitor (who organised the purchase) arranges & pays this for us. He also drew up a Spanish Will which is essential since inheritance laws are different in Spain. There is also an annual community charge that you pay to the Town Council.

The taxes are:

Impuesto sobre el Patrimonio (wealth tax)
@ 0.2% of the declared value (in the escritura) of the property (but this may depend on value of the property?)

& Impuesto sobre la Rental de no Residentes (assumed income tax)
@ 25% of nominal income which appears to be about 0.2%

Tax has to be pade by the end of the following year & declared on form 214. The tax is payable per person so for a couple each of you pays these taxes.

But it's much easier to get a solicitor or gestor to do this for you.


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