Non resident tax

Posted: Fri Jan 26, 2024 6:41pm

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fiona44

Posts: 5

Location: Villamartin

Joined: 9 Jan 2024

Can anyone advise how much the non resident tax is for owning a holiday home in Villa Martin please.

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Posted: Fri Jan 26, 2024 6:55pm

marcliff

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Posts: 1699

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Location: Rojales

Joined: 5 Jan 2023

Posted: Fri Jan 26, 2024 6:55pm

Been posted many times but here goes.

You need to know the cadastral value of your property. This is the rateable value and is a lot less than the actual value. You can get this from you IBI or council tax bill. If you don't get one you can ask for it at your local town hall or SUMA office.

If your property has been revalued in the last 10 taxable years then the amount the tax is based on is 1.1% of that value. If it hasn't been revalued then the figure is 2%. This percentage will also be on your IBI bill.

You then pay 24% of that if you are a non EU/EEA citizen or 19% if from the EU.

So, if you have a property valued at 200,000 the cadastral value could be around 80,000 euro so multiply that by either 1.1 or 2 percent.

Let's say it's been revalued so 80,000 x 1.1 percent is 880 euro. You then, if UK, pay 24% of that or 211.20 euro which is split by the number of owners. If jointly owned with your partner then 105.60 euro each.