Spanish yearly property Tax: The Impuesto sobre Bienes Inmuebles (known as IBI) is fixed by the local authorities, depending on both the value of the land and of the property itself. This Spanish tax is paid yearly, and you can either go to the local tax office and pay it directly when you receive the yearly notice in your postbox, or you can arrange for it to be paid automatically from a Spanish bank account (the best option if you do not live permanently in Spain).
You will be able to find out how much it is from the estate agent or seller you are dealing with at the time of purchase of the house in Spain, but the amount increases slightly each year.
One of the papers required by law in any property sale in Spain is proof of payment of the previous year's property tax which must be produced in this case by the vendor.
Spanish yearly rates: House-owners
in Spain are also required to pay yearly rates, which is a contribution to street
lighting, maintenance of facilities and rubbish collection. The yearly amount
again depends on the area and is paid to the local council.
|Other useful links|
|Latest news on the property market in Spain Selection of news articles related to the real estate market here.|
|Mortgages in Spain, a brief introduction to the Spanish mortgage market, how it works and interest rates in Spain|
|Spanish banks, before applying for a mortgage, find out more about Spain's most popular banks and Spanish savings banks.|
|Property taxes in Spain, description of taxes involved in purchasing property and yearly property taxes in Spain.|
|Useful Spanish vocab for buying a house - you should learn at least the basic terms. Check out our pronunciation guide too.|
|Renting property in Spain - if you want to buy to rent, then read this section and our free notice board of property to rent in Spain.|
|Spanish lawyers - information on lawyers fees in Spain for property transactions|
|Houses for sale in Spain - take a look at the kind of houses available. Or check out our free Spain property for sale board.|