📢 Attention, property owners in Spain! If you live here for more than 183 days a year, you’re officially a tax resident. That means taxes—let’s break them down for you!
1️⃣ IBI — Property Tax
Don’t sweat it! The local council calculates this one for you and sends you the bill. All you need to do is pay it (on time, of course!).
2️⃣ IRPF — Income Tax
Filing your annual tax declaration doesn’t have to be scary! There are plenty of deductions for property owners:
💡 What can you deduct?
Mortgage interest and expenses for home improvements
Taxes and fees, including IBI
Costs for maintenance, repairs, and insurance
Bonus: If your rental property is someone’s primary residence, you get a sweet discount on rental income!
3️⃣ Plusvalía Municipal — Capital Gains Tax
Selling a property? Be ready to pay this tax on the increase in cadastral value to the local council. Oh, and don’t forget to report it in your IRPF declaration too!
🗓 Key Deadlines:
Annual income tax — June 30 of the following year
Capital gains from property sales — within a month of the transaction
⚠️ Pro Tip from Avenida Invest: Late filings can lead to fines (and who wants that?). Let us help you navigate the paperwork and reduce your tax burden.
📞 Reach out to us today—we’ll make sure your tax worries are a thing of the past!