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Consider that one buys a 100K Euros holiday property in Spain (plus of course the
12% i.e. 12K Euros purchase fees) in a urbanisation with pool and some gardens.Say the community fee is about 150 Euros/month i..e about 1800 Euros per year.
How much are the other anual taxes or fees one has to pay for the holiday property?
Thank you.
There is IBI (council tax), basura (rubbish) and notional rental income for non-residents. Probably around £500 but this is just a guess.
There is IBI (council tax), basura (rubbish) and notional rental income for non-residents. Probably around £500 but this is just a guess.
Hi Flosmichael,
the VAT rate in spain as you are probably aware has gone from 16% to 18%. The other taxes are SUMA – council tax for rubbish collection etc – I pay on average yearly about E150 per year, La Renta Tax which is a tax whether or not you rent your property – last year mine was E45 – it goes on the catastral value as far as I am aware. You can do this return yourself through the local tax office – or through a fiscal representative which can cost more than the tax itself. The add on fees i.e. stamp duty, legal, VAT which I bought was appox 10% this may have changed with the recent changes. The community fees now I pay have reduced and we pay them twice yearly January E330 and July E107 – these go on the square meterage of your dwelling. Other than that there are no other taxes – the wealth tax has been abolished. The only other charges to watch for are Iberdorla (electric) and Aguagest (water) – the standing charges alone for these can be high. To point out I am on the Costa Blanca – the SUMA etc may vary in different regions.
Hope this is of help!
Hi Flosmichael,
the VAT rate in spain as you are probably aware has gone from 16% to 18%. The other taxes are SUMA – council tax for rubbish collection etc – I pay on average yearly about E150 per year, La Renta Tax which is a tax whether or not you rent your property – last year mine was E45 – it goes on the catastral value as far as I am aware. You can do this return yourself through the local tax office – or through a fiscal representative which can cost more than the tax itself. The add on fees i.e. stamp duty, legal, VAT which I bought was appox 10% this may have changed with the recent changes. The community fees now I pay have reduced and we pay them twice yearly January E330 and July E107 – these go on the square meterage of your dwelling. Other than that there are no other taxes – the wealth tax has been abolished. The only other charges to watch for are Iberdorla (electric) and Aguagest (water) – the standing charges alone for these can be high. To point out I am on the Costa Blanca – the SUMA etc may vary in different regions.
Hope this is of help!
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