Real Estate Tax (I)
Owners must pay annually the contribution to the municipalities where they file their farms, homes or local.
The Property Tax (IBI) is a fee to be paid once a year. This is what many know as the “tax bill” and is for payment to the municipality by the owner of a property (house, flat, slice etc.) For a fixed fee.
The IBI is thus defined in Article 61 of Law 39/1988, of December 28, 1988, Regulating Local Tax: The Property Tax is a direct tax levied on the real nature of value property in the terms of this law.”
Being a direct tax means that refers to a levy derived from the financial capacity to own property. The IBI is paid each year. The repayment period is usually between 1 October and 30 November or 1 January, according to the various municipalities.
The IBI tax base is the assessed value of property, which reflects the value of land occupied and the building. Municipalities can levy this tax, at least with 0.4% in the case of goods of urban and 0.3% in the case of goods rustic nature. The truth is that there are sometimes significant differences between the various municipalities and the tax increase may depend on factors such as number of inhabitants of the building or location, location, year of construction and other circumstances such as the provincial capital or autonomous community, public services etc.