Owning a property in Spain has proven to be fairly economically advantageous compared to other countries.<\/span><\/i><\/p>\n Below is a brief overview of the Spanish property tax.<\/span><\/p>\n In addition to the fixed operating and maintenance costs, annual property costs and taxes are added, which are calculated based on the size of the home and the type of home.<\/span><\/p>\n Impuesto Sobre Bienes Inmuebles \u2013 IBI municipal property tax<\/span><\/p>\n IBI is a municipal property tax that you pay whether or not you are a resident of Spain. It is calculated based on the valuation value of the property as determined by the municipality.<\/span><\/p>\n IBI \u2013 in general this tax is usually around 150 \u2013 400 EUR \/ year.<\/span><\/i><\/p>\n Impuesto sobre la Renta de No Residentes <\/b>\u2013 IRNR- income tax for non-resident homeowners<\/span><\/p>\n If you are a non-resident homeowner, with no rental income or other sources of income in Spain, this tax is based on the value of the property.<\/span><\/p>\n RNR is a fixed tax rate of 19% or 24% that is based on a certain percentage of the valuation value of the property; 1.1% if the valuation value is revised and 2% if it is not revised, and 1.1% on 50% of the purchase price if it appears that the valuation value of the property has not been registered. The following helps you to get an idea of \u200b\u200bhow much it can be:<\/span><\/p>\n For example, if an object has an appraisal value of EUR 100,000, the tax is calculated as follows:<\/span><\/p>\n The tax base of the IRNR is 1.1% of the tax value of EUR 100,000 or EUR 1 100. The tax would amount to<\/span><\/i> 19% or 24% of EUR 1,110 or 209 or EUR 264 \/ year.<\/span><\/p>\n If you are a homeowner, you pay income tax based on the income that you had during the year. The tax rate is calculated based on the size of the income.<\/span><\/p>\nPossible costs for the housing association<\/b><\/h3>\n