Taxes on Property Purchases in Andalucia

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Slide 1:

Buying Property in Spain Property Taxes in Andalucia

Slide 2:

Dealing With Property Taxes in Andalucia A tax must be paid upon the purchase of property in Spain as required by Spanish property law . The actual rate depends upon the region in which the property is located.

Slide 3:

Dealing With Property Taxes in Andalucia Not just the rate depends on the region in which the property is located but also the number and instances of any variations in the rate that exist. So we must look at the relevant legislation in each region to see what tax rate is payable.

Slide 4:

Dealing With Property Taxes in Andalucia In Andalucia the relevant legislation includes Art 23 of Decreto Legislativo 1/2009 which establishes a tax rate of 7% on all property transfers. This is of course subject to alternative rates which apply in certain circumstances as follows.

Slide 5:

Reductions of Main Home Purchases by Young People Ley 11/2010 provides that where the property value is less than €130,000 and the purchaser is under 35 years old and the property is being purchased for the purposes of investing in a main home then the tax rate is reduced to 3.5%

Slide 6:

Special Rate for Properties over €400,000 Ley 08/2010 provides that where the property value is over €400,000 then the tax rate is increased to 8%

Slide 7:

Special Rate for Properties over €400,000 Ley 08/2010 also provides that where the property in question is a garage (used for storing a car etc) that is not attached to the home, with a value over €30,000 then the tax rate is increased to 8%. If any more than two garages are attached to a property then the increased rate also applies.

Slide 8:

Special Rate for Real Estate Companies By Ley 1/2010 where the person or company purchasing the property is involved in activity which is governed by rules relating to the Real Estate sector then a specially reduced rate of 2% applies - though the property must be sold within 5 years and must figure in the purchaser's current assets.

Slide 9:

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

Slide 10:

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

Slide 11:

And much more... Download the myAdvocate Spain guide to Dealing with Property in Spain by clicking on: Secrets to Dealing with Property in Spain

Slide 12:

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