Can anyone help with the rates situation in Mallorca. I am led to believe that property rates on an annual basis, are based on the equity in the property and not on the value therefore having a mortgage can only help the situation. Does anyone know if this is correct?
also any idea of the percentages that are payable ?
Hi Jonnybee I am just buying a house in Calvia and have been told that the ‘rates’ are calculated on the value logged at the town hall which is different to the price you pay and often much lower. Where in Mallorca are you buying? Expensive isn’t it!!! Susan
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