Municipal property tax ‘IBI’
Spain has a municipal property tax, called the IBI. This municipal tax is between 0.3% and 0.7% per year, depending on the municipality.
This tax can usually be paid automatically.
It is important that you pay correctly and on time. Fines will be paid if not paid in time. When selling a home it is even mandatory to show that the ‘IBI’ of the current (!) year has been paid.
If the IBI is not paid, the notary can not approve the sale of the property. In some regions of Spain there is an exception if there is an specific agreement with the buyer that this tax is a part of the payment.
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