{"id":4910,"date":"2021-11-24T17:20:42","date_gmt":"2021-11-24T15:20:42","guid":{"rendered":"https:\/\/chg.es\/what-are-real-estate-taxes\/"},"modified":"2023-04-20T04:18:40","modified_gmt":"2023-04-20T02:18:40","slug":"what-are-real-estate-taxes","status":"publish","type":"post","link":"https:\/\/chg.es\/en\/resort-costa-blanca\/what-are-real-estate-taxes","title":{"rendered":"What are real estate taxes?"},"content":{"rendered":"<p><!-- paragraph --><\/p>\n<p>When carrying out an operation such as the purchase of a home or property, it is necessary to know the real estate taxes and the rates that exist.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\"} --><\/p>\n<h2 class=\"has-text-align-center\">What exactly are real estate taxes?<\/h2>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>When buying (and selling) properties, certain tax liability fees must be paid. Those fees that are paid for these operations are the well-known real estate taxes.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\"} --><\/p>\n<h2 class=\"has-text-align-center\">These are the most common taxes and fees in Spain for a property<\/h2>\n<p><!-- \/heading --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Taxes on Documented Legal Acts (IAJD)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>Better known as the <a href=\"https:\/\/www.chg.es\/en\/pedir-una-hipoteca\/\" target=\"_blank\" rel=\"noreferrer noopener\">Mortgage<\/a> Tax, it is a tax that is levied on all those acts in a public document that have an economic amount, such as sales and mortgages. This amount may vary depending on where the home is registered.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Tax on the Increase in the Value of Urban Land (Plusval\u00eda)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>Over the years assets tend to increase in value. The positive difference between the <strong>purchase<\/strong> price and the <strong>sale<\/strong> price of a property is the equity capital gain. According to the Law, this difference must be paid by the seller, unless there is an agreement between the parties, and the amount will vary according to different factors such as the municipality in which it is located or the years that have elapsed since the last settlement.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Value Added Tax (VAT)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>VAT will sound familiar to you since it is a tax that applies to everything, not just to real estate. Although in this case, it is usually 10% of the notarized amount (except for officially protected houses that have a 4% VAT) and only affects new construction homes.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Property Transfer Tax (ITP)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>This would be the VAT on second-hand homes. That is to say, it is a tax that must be paid for the purchase of a property of patrimonial transmission. The amount depends a lot on the autonomous community where the property is located.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Income Tax (IRPF)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>In the same way that we declare what we earn for our work, we must also declare the profits when selling a property.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Property Tax (IBI)<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>It is undoubtedly <a href=\"https:\/\/www.chg.es\/en\/que-es-el-ibi-impuesto-sobre-bienes-inmuebles\/\" target=\"_blank\" rel=\"noreferrer noopener\">one of the best kn<\/a>own taxes and it is an annual tribute to the city council that the owners of a property have to pay (whether a flat, a villa, a local or a garage).<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- heading {\"textAlign\":\"center\",\"level\":3} --><\/p>\n<h3 class=\"has-text-align-center\">Garbage rate<\/h3>\n<p><!-- \/heading --><\/p>\n<p><!-- paragraph --><\/p>\n<p>The <a href=\"https:\/\/www.chg.es\/en\/garbage-rate-what-is-it-and-how-does-it-work\/\" target=\"_blank\" rel=\"noreferrer noopener\">garbage tax<\/a> is the tax that is paid for the collection and management of the waste we generate. Being local, it varies according to the locality or municipality of the resident.<\/p>\n<p><!-- \/paragraph --><\/p>\n<p><!-- paragraph --><\/p>\n<p>Did you know all these real estate taxes?<\/p>\n<p><!-- \/paragraph --><\/p>\n","protected":false},"excerpt":{"rendered":"<p>When carrying out an operation such as the purchase of a home or property, it is necessary to know the real estate taxes and the rates that exist. What exactly are real estate taxes? When buying (and selling) properties, certain tax liability fees must be paid. Those fees that are paid for these operations are&hellip;<\/p>\n","protected":false},"author":2,"featured_media":4309,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[52],"tags":[],"class_list":["post-4910","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-consejos-y-decoracion-en","category-52","description-off"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.4 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>What are real estate taxes? - CHG<\/title>\n<meta name=\"description\" content=\"When buying (and selling) properties, certain tax liability fees must be paid. Those fees are the well-known real estate taxes. 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