The annual fixed costs if the resident has a villa in the Costa Blanca:

• Property tax (IBI) Impuesto sobre bienes inmeubles. You will pay between 0.4% and 0.9% property tax. The percentages vary by municipality.
• Spanish wealth tax. Impuesto sobre el Patrimonio. This has been abolished since January 1, 2008.
• Service charges. Cuota the communidad. This relates to joint costs of the complex or the (apartment) building where you bought your home. For example, costs for maintenance, common areas, a community pool, streetlights, security, etc. In our projects is not an issue as we build on individual plots!
• Basura. This amount is the current prices, but usually amounts to a sum of around € 400 per year.
• Shelter and contents insurance. Seguro de construcción & seguro de objetos domésticos.
• For non-residents: The Spanish tax authorities responsible for foreign property owners with a sort of British value. You must provide 2% of the cadastral value (valor catastral) to give the Spanish income tax. You are on this amount 19% tax guilty. You rent the house you pay income tax in Spain on rental income i.p.v. imputed rent. The latter is similar to the cadastral income in Belgium where property tax paid!