The annual basic costs for your Spanish property


I


t is time to make a review of the annual costs related to your property in Spain. If you already


have a house or about to buy one, this article may be relevant for you. When buying a house, not many people know about some of the taxes, community fees and so on. So, let’s get started. Obviously, this is only a reference to the general costs. To be more specific we would need to know the area, the value, the dimensions and many other aspects of the property. In other words, the costs are different for a house, an apartment or a country property. As owner of a home in Spain, in general terms, you are liable for some payments that we have classified as follows:


TAXES: IBI


IBI (Impuesto sobre bienes de naturaleza urbana) which is equivalent to Municipal Property Tax. Your property has a rateable value according to Administrative laws. We call this value “valor catastral”. Te IBI applies to every property and the tax bill must be paid every year. Te tax bill depends on the size of the property, including land and construction, where it is located, the municipal rate and the nature of the property


GARBAGE COLLECTION (BASURA) Garbage collection which is normally collected every six months or annually, depending where the property is located.


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