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What is the Plusvalia or Local Capital Gains tax?

Plusvalia or Local Capital Gains Tax is a tax on the theoretical increase in the value of urban land based on the value in the Catastro (tax register). It is a direct tax levied by Spanish town halls as a percentage of the Catastro value per year and pro-rata for shorter periods, and it is the local Town Hall which decides what percentage will be applied in each situation, therefore the tax is different in each town.

When is the Local Capital Gains tax applied?

The Local Capital Gains tax is applied:

  • At the time of the transfer of the property title.
  • The creation or transfer of a real limited property right which allows its use and enjoyment on these lands.

Excluding any properties designated as rustic.

Obligation of payment of Plusvalia

Who pays, the person liable to pay the Local Capital Gains, will vary depending on the type of transaction:

  • In the case of a normal sale and purchase transaction or compraventa, the person liable for the payment of the Local Capital Gains is the person selling the property.
  • In the case of a non-financial transaction, (ie: no money changes hands, like gifts, donations or inheritance…) the person liable to pay the Local Capital Gains Tax would be the person benefiting from the receipt of the property.

Calculating the value of the Local Gains Tax

How much are you going to have to pay? Would you like to know the exact amount of Local Capital Gains Tax you will have to pay on the sale of your property, Brassa Real Estate, S.L. offers this service free of charge, all we need is a copy of your Tittle Deeds – Compraventa Escritura – and your last IBI receipt.