Taxes on Property Transfers in Castilla La Mancha

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Slide 1:

Property Sales Tax in Castilla La Mancha

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Property Taxes Payable in Castilla La Mancha The standard rate of tax payable in Castilla La Mancha on the transfer of property and the creation of rights over the property (except for mortgages) is 7% of the value of the property – Article 10 Ley 9/2008.

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Lower rate of 6% in Special Circumstances A special lower rate of 6% applies to property transfers in which the property that is the subject of the transfer shall constitute the first principal residence of the purchaser where any one of the following criteria are met:

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Lower rate of 6% in Special Circumstances Cntd... - The value of the property is less than €180,000 - The purchase of the property is financed by a mortgage that is at least 50% of the value of the property

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Lower rate of 6% in Special Circumstances Cntd... - The true value of the property is the same or higher than the value of the mortgage

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Lower rate of 6% in Special Circumstances Where a rental agreement contains an option to purchase the property a rate of 6% shall apply where the option is exercised if the following criteria are fulfilled:

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Lower rate of 6% in Special Circumstances - The beneficiary of the option is under 36 years of age and the beneficiary's date of birth appears on the contract - The contract must comply with the requirements for it to be registered on the Land Registry

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Lower rate of 6% in Special Circumstances - The property must be classified as 'social housing' as per the existing rules in Castilla La Mancha and the beneficiary must occupy the property within one month of the contract being signed.

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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: Spanish Property Lawyers

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Always make sure to get information on a Spanish lawyer’s professional background as well as the legal fees they will charge before you commit to using their services. If you need a lawyer in Spain Consider this free service from myAdvocate Spain™: Lawyer Verification System

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

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