SELLING? MUST I STILL PAY THE “PLUSVALIA"?
When selling a property in Spain there are taxes and fees that you’ll be liable to pay for, as a vendor. One charge in particular is called the “Plusvalia”.
This is charged by your local Town Hall and is an increase in the land value from the time the property was purchased to the time when it is sold. The amount differs drastically from Town Hall to Town Hall.
Many people over the years have complained about this cost, as they were continuing to be charged even when prices and values dropped.
It has been an ongoing battle for years with the Town Halls, and has been passed through the courts declaring they cannot continue to charge this fee.
So where does that leave you as a vendor ready to complete your sale?
Right now Lawyers are still very wary of the “Plusvalia" and are and will continue to retain this amount on account for a while, just in case the Town Hall makes a claim.
My advice would be to continue to calculate your figures taking the Plusvalia into account, and if it is not claimed by the Town Hall, you will receive it back at a later date.
It is always advisable to take guidance from your Real Estate Agent or Lawyer regarding all fees you’ll be liable for, when you complete your sale.
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