Property Tax in Spain: Know It, Pay It, Sleep Peacefully! 💰
Dreaming of your own place under the Spanish sun? 🌞 Picture yourself sipping sangria on your terrace?🍷 Before you hang that hammock, let’s talk about taxes—because Spain is full of surprises!
🔹 IBI (Impuesto sobre Bienes Inmuebles) – an annual property tax. If you own a property, you pay it. Whether you live there or rent it out.
🔹 When? Once a year, deadlines vary by municipality.
🔹 How to pay?
✔ At the bank or online 💻
✔ At local tax offices 🏛
✔ Automatically (best choice – tax paid, no stress 🏆).
💥 Late payment consequences?
Fines, penalties, and if you ignore it for too long, your bank accounts, or even your property, could be seized.
📊 How is IBI calculated?
💰 Formula: Cadastral value × Tax rate
💡 Cadastral value – not the market price, but a state-assessed amount.
💡 Tax rate – varies by city (0.4% – 1.3%).
Example: If your property’s cadastral value is €150,000 and the tax rate is 0.6%, you’ll pay €900 per year.
📍 Sample tax rates:
🏙 Madrid – 0.51%
🌊 Barcelona – 0.66%
☀ Malaga – 0.74%
💡 Can you save money?
Yes! Discounts apply for large families, energy-efficient homes, and those using automatic payments.
Thinking about buying property in Spain? 🏠 Now you know what to expect! DM us or WhatsApp – we’ll help you navigate and find your perfect place!
