The local tax Plusvalia is paid to the municipality after the sale of a property in Spain. At the end of October, however, it was annulled with immediate effect by the Constitutional Court. The reason for the ruling was that the method of calculation meant that even those who sold their property at a loss were forced to pay the tax.
As a result of the ruling, those who sold a property after October 26 did not have to pay Plusvalia. However, the tax constitutes a very significant source of income for the country's municipalities and the tax authority has therefore, with an urgent nature, introduced a new plusvalia that came into force on 10 November through a new legal decree.
The new plusvlai is based on more real values. In addition, sellers can now choose between the tax being calculated either on the basis of the assessed value or the actual difference between the purchase and sales price. Another novelty is that plusvalia must also be paid for sales of properties that take place less than twelve months after the purchase.
This week, the real estate portal Idealista has published the first plusvalia calculator based on the latest changes. Click here https://www.idealista.com/news/estadisticas/calculadora-plusvalia/
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