Property tax

Non-residents tax is due annually in arrears, so tax for 2021 is payable by the end of 2022.  Often the first year's return is included in your conveyancing fee, but not always.  If you purchased this year it will be a payable for only the number of days you have owned in 2021.

The rate is calculated as a small percentage of the Cadastral value, but that percentage is dependent on when the last valuation was made.  So no-one here can give you an exact figure but based on the price you paid and the area, the tax is likely to be under €200 each for a full year.  Each owner pays their own tax separately.  Again, if you have recently purchased the property then your solicitor should be able to give you an exact figure.  Sorry I cannot be more precise.

...and ours is per the property, Pam...not individually. We also have a much smaller tax bill for land, which I assume to be a parcel the previous owner bought in addition. Ours is around 700 euros for the base plus the latter another 40.I should add that last year was minimal as we were not residents in Spain at that time. This year is different.

Best wishes,

D

That doesn't sound like non-residents tax.  The tax is payable by each owner and I am not sure what you mean by "last year was minimal as we were not residents in Spain at that time" - that's the whole point of the Non-res tax, it is paid because you are not residents, so it would not be less because you are are not there, whether you are there or not makes no difference.

The non resident tax is per person, which is the total tax divided by the number of owners. The tax is based on a small proportion your property's value (catastral). This is usually paid around October/November

If you bought after 01/01/21 then the original owner is liable for this tax this year. Check with your lawyer.

Based on 125,000 euros it's not going to be too high. Perhaps 250 euros each?

Sorry - you are right. Non resident tax is per person. I was thinking about IBI a type of council tax as the OP headed up 'property tax'. No worries.

Best

D

Thankyou for all your replies , this has been very helpful 

Pam 🙂

Hi Pam

as per Trotter this is per owner and based on your IBI (Council tax) which shows the cadastral value used in the calculation. Upto and incl. this year's payment the calculation is cadastral value x 19%x0.1% if the valuation has been done in last 10yrs, longer than10yrs it's 0.2 instead of 0.1%. However since Brexit from January 1st the calculation is increased from the 19% to 24% as 3rd country owners. This tax is paid by 31st December in arrear so this year's increase to 24% will be paid next year. I use a company in Torrevieja called Angar Taxation Services who charge 20€ per owner and that includes paying it for you too and it's all done by email. Google them they are excellent. If you have an IBI invoice you could calculate this yourself but if you have just purchased property this year you are not liable until next year and sometimes they revalue the IBI on property change so I prefer to have Angar do this tax so it is always correct. Hope this helps you. 

Regards 

Pauline