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!
