03 – Property Taxes and Costs for OWNERS
03: What TAXES and associated costs must be paid on an ONGOING basis to keep a property in Sotogrande.
- Annual Property Taxes
- Community fees
- Garbage collection tax
1. Annual Property Taxes – IBI
Impuesto Bienes Inmuebles – Real Estate Tax
This is an annual real estate tax levied by the local Town Hall and is at present a percentage of the cadastral value (‘valor catastral’). It may vary depending on the municipality where the property is located. As a reference, the tax scale goes from 0.3% to 1.3% of the cadastral value of the property.
The cadastral value is the assessed value for tax purposes and is important because other taxes are based on it as well. When you buy, you need to see the seller’s last receipt for the IBI payment. This contains the value and the exact amount of the tax.
2. Community fees
These are fees paid to the Community of Owners for services and maintenance of communal areas. In the case of villas in Sotogrande it is the EUC (entidad urbanística de conservación). When the property is located in a development or apartment building there would be an additional charge specifically for the cost related to the management and running costs of that building or apartment block. When signing the purchase title deed at the Notary they must be up to date and the owner must provide a certificate issued by the Community, stamped and signed by the administrator. The cost of the certificate is to be paid by the owner.
3. Garbage collection tax
Amounts are fixed and paid to the local authorities. These are not prohibitive and are 300€ per year in Sotogrande.
Let us help you!
We are always available to discuss specifics and can recommend a number of different reputable professionals who can provide advice in your own language if you prefer. Contact us: info@noll-sotogrande.com
Charles Gubbins.
Email: charles.gubbins@noll-sotogrande.com
Mobile: +34 607 911 661
Stephanie Noll
Email: stephanie@noll-sotogrande.com
Mobile: 34 607 465 383
© Noll Sotogrande Real Estate
Disclaimer: Please note the material contained in this guide is for informational purposes only and does not constitute or imply a substitute for professional financial, legal or taxation advice. This information is general in nature and has not taken into consideration your specific personal circumstances. It is strongly recommended you get professional advice from regulated and/or registered qualified professions: financial advisors, accountants, lawyers.
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