Talk Quesada forum

Can anyone help. Myself brother and sister have inherited my fathers house 16 months ago. Can anyone give me an idea what that involves and what it may cost or how you work out the cost. Also do we have to pay it individually?

As you now own the property in Spain you will be liable to non-resident tax which is deemed as a benefit on owning the property. If you rent the property, you do not pay this tax as you pay tax on the rental income instead.

The cost would be dependant on the rateable value (known here as cadastral value) which is about 60 to 70% of the actual value of the property. You then pay that value times 1.1% (or 2% if it hasn't been revalued in the last 10 years) and then 19% of that.

For example. the house is valued at 100,000 euro. Cadastral value (as shown on council tax bills) of 70,000 euro. Multiplied by 1.1% is 770 euro and the tax rate of 19% makes it about 146 euro.

As two of you own it, you will each be liable to 50% of the tax or 73 euro a year.

You also have to pay IBI (which is the local council tax). I have no idea what this amounts to as you put your location as Torrevieja but you should get a bill every year (payable about September time) and this varies dependant on the council.

You should get a solicitor or gestor (financial adviser) who will help you complete the forms.

(Please note that our house with a cadastral value of 114000 euro (190,000 value of the property) has an IBI of around 240 euro a year in Quesada but will be different for Torrevieja.

SGM Abogados in Benijofar are specialists in inheritance law. My neighbour across the street was extremely happy with Silvia Galve and her team.