Spanish Terms III: Impuesto sobre bienes inmuebles: IBI
The IBI Tax is similar to the Council Tax you pay for your property in the UK. It is a local tax and is paid once a year by everyone who owns a property in Spain, resident or non-resident. That tax is calculated by every Town Hall and takes into account so many circumstances of the house and the surroundings, including the services, etc.
The period for voluntary payment, that is, to pay it with no delay interests or penalties on top of it, is from August to October.
Here in the Alicante province the voluntary period to pay that is from the 23th August 2012 to the 5th October 2012.
There is council tax due on the ownership of urban property which is calculated on the rateable value of the property (valor catastral). Rates range between 0,4 percent and 1,3 percent. IBI is calculated according to the fiscal or rateable value of your property.
If you have bought or sold a house, it is important to change the name of the owner in the Catastro Office, to have that tax in your name.
You have two ways of paying this IBI Tax: in cash or by direct debit. In both cases, we will be able to help you in ABC Solicitors.
But it is important that you know that the IBI Tax accrues on 1st January each year, so it is the owner of the property on that date who must pay the tax for that year, even if the property is sold. i.e., if a property is sold in June this year, the vendor must pay the bill for this year 2012, even if it is due in September.
Please feel free to contact us in any of our two offices (in Torrevieja and in Playa Flamenca) with whatever questions you may have about this tax and our staff in ABC Solicitors will be more than happy