Glossary
TaxationAlso: Wealth tax
Impuesto sobre el Patrimonio
Annual tax on net wealth above a threshold, varying by region.
The Impuesto sobre el Patrimonio is an annual tax on the net wealth of individuals. There is a general allowance, often around €700,000 per taxpayer, and a specific allowance for the main residence, but the thresholds and rates vary from one autonomous community to another.
Some regions apply an almost total rebate, others tax it in practice; a Spanish property falls within the taxable base, including for non-residents.
For the seller
The value of your property counts toward your taxable wealth; selling or buying changes your exposure to this tax depending on the region involved.
See also
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