What are the taxes we pay when we sell a property?

• Personal Income Tax: This tax is related to the income obtained during a calendar year. It is only for Spanish residents.
• Municipal Capital Tax: This tax is related to the increase in the value of urban land. We can calculate the municipal capital gain by adding:
  • The cadastral value.
  • Number of years the property has been owned by the seller.
  • The type of tax that will depend on the municipality.
  • The revaluation rate.
• Property or real estate tax (IBI): This tax is paid to the city council where the house is located. This makes reference to the ownership and the real rights on the house. The IBI is taxed on January 1 of each year, so the owner of the dwelling at this time will be the one who pays it. The seller must always present the last IBI receipt to prove that he has paid. The lien will vary according to the town in which the house is disturbed.

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