Those citizens residents in Spain
IBI tax or the Ownership tax: The town hall collects a “Contribution” each year that is
calculated regarding the Register Value (Valor Catastral).
IRPF or Personal Income Tax
For a property that is not rented: The owner is assigned with Real Estate Asset tax (Rentas
Inmobiliarias). It is calculated with Register Value multiplied by 2% and by the imputation
basis of the Personal Income tax.
For a property that is rented: all the gaining generated by the rentals must be declared
after deducting the recoverable amounts, such as agency bills, community fees, insurance
payment, reparation, etc. Proration must be done taking into consideration only the days
that the property has been rented.
IP or Wealth Tax. Depending on the value of the property, you may be obliged to pay the
Wealth Tax, which is declared with 174 form. There is a general exemption of €700,000 which
is not subject to wealth tax.
Non Residents
IBI tax or the Ownership tax: The town hall collects a “Contribution” each year that is
calculated regarding the Register Value (Valor Catastral)
IRNR or Personal Income of Non residents.
For a property that is not rented. The owner is assigned with Real Estate Asset tax (Rentas
Inmobiliarias). This tax is declared before 31 of December with 210 form. It is calculated
with Register Value multiplied by 2% and then levied by 19% (EU/EAA) or 24% (non EU/EAA).
For a property that is rented: It must be declared with 210 form quarterly (on first 20 days
of April, July, October and January. The total amount of gaining must be declared levied by
19% (EU/EAA) or 24% (non EU/EAA).
IP or Wealth Tax. Depending on the value of the property, you may be obliged to pay the
Wealth Tax, which is declared with 174 form. There is a general exemption of €700,000 which
is not subject to wealth tax.
