What taxes must be paid when selling a property

Although the sale of a home always involves recovering some liquidity, it must also be borne in mind that this transaction entails a series of expenses, including taxes that the seller has to face. These are the taxes that must be paid when selling a property:

 The Personal Income Tax (IRPF): this tax must be paid in the event that there is a capital gain, that is, the difference between the acquisition value and the transmission value is positive. This tax will be taxed based on the gain acquired as follows:

Taxes:

o At 19% for earnings up to € 6,000

o At 21% for earnings between € 6,000 and € 200,000

o At 26% for earnings over € 200,000.

 The Tax on the Increase in the Value of Urban Land, or also known as municipal capital gain. This tax is related to the increase in the value of the property during the years in which we have been owners, and to calculate it, the cadastral value is taken into account, the years in which we have owned it and the type of tax depending on the Town hall.

 The Real Estate Tax (IBI), this tax normally corresponds to the seller, since it must be paid by the person who appears as the owner of the property on January 1. There are times when the payment can be negotiated between the buyer and the seller, so that each would pay the tax based on the months in which he is going to be the owner.

In order to process and manage the taxes that the sale of a property entails, it is best to go to qualified personnel or directly let our real estate advisor help us throughout the sale process, including the payment of taxes.

At Fincas La Clau we have a legal department specialized in tax law, and we will help you process and manage all the taxes that must be paid when selling a property.



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