Will Taxes Be Due Once I Sell My Home In Spain?

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If you have the status of a non-resident in Spain, there will be a tax due of 3 percent of selling price when you go to dispose of your property. These funds are sent to the Tax Authorities, but there are ways to recover what you have paid if the sale leaves you with a loss.

If you purchased your property for more than you were ultimately able to sell it for, the government in Spain will give you a refund in six months or less, though you have paid your 210 Model Tax each year. This represents the non-resident tax that owners need to pay Hacienda. Such amounts are determined by the home’s value.

“Plusvalia Municipal’ is a type of local assessment. Payment goes to the town hall, and the amount is ascertained based on:

* The land’s cadastral value on the date of ownership transfer.

* The number of years you have been the owner.

* A tax base and multiplier, each of which is found in the municipality’s by-laws.

Furthermore, if your home was initially purchased with a mortgage, it is necessary to pay the mortgage conclusion expenses so that the Registry can cancel the mortgage. This generally tends to run about €1,000.

Posted by

Peter Spain

After following the property sector for several years especially in Spain, I came to understand the cycles and all the attendant peaks and troughs that come with it.
I now focus my efforts on helping established local agents with their online presence and visibility. Several Spanish agencies are benefitting from the attention to detail and meticulous research that I provide which forms part of the marketing strategy I offer.


Comments (1)

Will Hamm
Hamm Homes - Aurora, CO
"Where There's a Will, There's a Way!"

Hello Peter and great information to share with us here in the Rain.  May you have a super day!


Nov 11, 2021 11:40 AM
Peter Spain

Thanks Will. Have a nice weekend.

Dec 03, 2021 05:19 AM