Yearly tax on house ownership
-
- Andalucia Guru
- Posts: 6213
- Joined: Thu Jul 29, 2004 1:42 pm
- Location: Cáceres Province, Extremadura
Yearly tax on house ownership
I've just had a meeting with my solicitor who informs me that, in addition to the Catastral tax every year that goes directly to Madrid, I am supposed to declare, every year, what properties I own and pay a tax on them. In addition, on the PURCHASE of a property there is a tax to be paid. I know about the tax on the SALE of a property and I've paid that enough times but ... can anyone explain what my lawyer is on about in simple terms, please? I know I should have asked her but time was running out and I was rather shocked at what she had said.
- peteroldracer
- Andalucia Guru
- Posts: 7789
- Joined: Wed Oct 13, 2004 5:56 pm
- Location: Los Alcázares, Murcia
Re: Yearly tax on house ownership
there is a registration fee when you buy.
I used to cough to disguise a [email protected] I f@rt to disguise a cough.
-
- Andalucia Guru
- Posts: 6213
- Joined: Thu Jul 29, 2004 1:42 pm
- Location: Cáceres Province, Extremadura
Re: Yearly tax on house ownership
Well if that is all it is we’ve done that.
-
- Andalucia Guru
- Posts: 11081
- Joined: Tue Jun 15, 2004 11:11 pm
- Location: Guadalhorce Valley
Re: Yearly tax on house ownership
You should pay an annual resident's tax on any property you own (other than your habitual residence) which is calculated in the same way as the annual non-resident tax. There is a section for this on your annual tax return.
Transfer tax is payable on the purchase of a property.
Transfer tax is payable on the purchase of a property.
Re: Yearly tax on house ownership
My understanding of this is we pay a small percentage of the potential income if this property is not our permanent residence.
-
- Andalucia Guru
- Posts: 6213
- Joined: Thu Jul 29, 2004 1:42 pm
- Location: Cáceres Province, Extremadura
Re: Yearly tax on house ownership
I think that must be what she was talking about. I've checked back on our tax returns and two houses are, indeed, listed. Thanks, everyone. I'm just in panic-overload as I hate all this paperwork stuff.
Who is online
Users browsing this forum: Google [Bot] and 3 guests