Spanish property tax and rateable value

V

vblancas

Guest
can someone clarify the following for me please.
how is the rateable value of a property in spain calculated and how does this differ to the declared value. also where would i find the declared value of the property in spain
thanks
 
Welcome to AAM, vblancas.

The declared value will be in the Escritura (Deed of title), and you shouldn't buy a property until you have obtained a current extract of it (Nota Simple) from the Land Registry. The declared value may be significantly less than the actual price paid for the property, in time-honoured tax-dodging tradition...

The rateable value or valor catastral is the official assessed value of the property, on which your property owner's Income Tax will be based. I don't know quite how it's calculated, but a lawyer who deals with property transactions should be able to advise. It will be listed on the the receipt(s) for the paid Rates (Impuestos sobre Bienes Inmuebles, or I.B.I.), which is the annual real estate tax; you should also check with the Town Hall that the I.B.I. has been fully paid up to date, otherwise you may 'inherit' an additional liability.

www.spanishpropertyinsight.com (to which I have no connection) has some useful resources.
 
Thank you very much DrMoriarty.
I will check the site you gave me.
vblancas
 
Dont forget the Plus Valia which went up in January
I just sold in Spain and it came to 1% of the selling price.
And you pay the Tax for the year and the SUMA even if you are gone in March of the year
 
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