Taxes on Property Alicante

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Slide 1:

Property Taxes in Spain

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Property Taxes Payable in Alicante Spanish property law in the Valencia region , specifically Ley 11/2002 sets out the rate of tax payable on the transfer of property and the creation of rights over the property (except for mortgages) as being 7% of the value of the property.

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Where the property being purchased is a property subsidised by the government then it is subject to a tax rate of 4% if the property is going to constitute the main home of the purchaser. Protected or Subsidised Properties

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Ley 11/2002 further provides that a property acquired by a legally defined 'large' family for the purpose of being their main home is subject to a special tax rate of 4% where: - the property is purchased within 2 years of the family achieving the status of being 'large' Initiatives for Large Families

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- the property formerly used as a family home must be sold within the same period of time - the new property must be at least 10% larger in area than the previous home - the total taxable income of the family unit may not exceed €44,955 Initiatives for Large Families

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Purchase of Housing by the Disabled The acquisition of a property by a person suffering a physical or sensory disability of > 65% or a mental disability > 33% shall attract a rate of tax of 4% for that part of the property which they acquire.

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If you would be interested in a free and comprehensive guide that will help you to avoid the typical pitfalls the foreign buyers of property fall into as well as dealing with issues such as... Guide to Dealing with Property in Spain

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To find out how to deal with such issues as... Which legal checks on a property are vital to avoid any problems The step-by-step process of buying a property in Spain

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As well as... Typical ploys to watch out for to avoid being defrauded. Property taxes you pay and those you don't!

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And much more... Download the myAdvocate Spain guide to Dealing with Property in Spain by clicking on: Secrets to Dealing with Property in Spain Or for further information on the property purchase process specifically go to: Real estate lawyer Spain

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If you need legal advice in Spain but are concerned about dealing with Spanish property lawyers about which you have little or no background information, then get peace of mind at no additional cost by using the: 'Look before you leap' Lawyer Verification System myAdvocate Spain™

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More information and contact details: www.myadvocatespain.com [email protected] Tel. +34 931 845 073

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