TaxationAlso: Impuesto sobre Bienes Inmuebles, Spanish property tax

IBI

The annual property tax owed by whoever owns the property on 1 January.

The IBI is the annual local tax on property ownership, calculated by the town hall from the property's cadastral value. It is owed by whoever owns it on 1 January of the year.

Its amount varies widely depending on the municipality and the cadastral value, but generally stays moderate, often a few hundred euros a year for a home.

For the seller

You remain liable for the year's IBI if you own the property on 1 January; a pro-rata split with the buyer can be negotiated and is often recorded in the deed.