Patrimonio
(Wealth Tax) - This is
a tax that is paid on all assets. Commencing at 0.2% for the first 160.951
Euros of assets and thereafter the rate will increase. In calculating this
tax the value of the property is taken as the assessed value of your
property or valor
catastral after
deducting the value of any mortgage on the property.
There also exists an
imputed Income Tax. Based on an imaginary income relating to the value of
the property. The authorities compute this as 2% of the assessed value or
valor catastral. On this income tax is at the rate of 25% for non
residents but for residents it is considered as additional income and
added to their other income for tax purposes. If this is a principal home,
then residents are subject to this charge.
