In Living Sitges, real estate in Sitges, we know that this is one of the most frequently asked questions when selling a home. That is why we have created an article in which we will solve those doubts you may have regarding taxes and give you an idea about the final price.
If you have also asked yourself “What do I have to pay if I sell my house”?
Taxes when selling a property in Catalonia
The IRPF – Individual Income Tax
It is based on the sale price, the price at which we bought it and the expenses that we assume when carrying out both operations.
If the result is negative it will not be necessary to pay the tax, if on the contrary it is positive, the percentage of tax is progressive.
We leave you the tables of the percentages of payment:
Profits up to 6,000 euros: 19%.
Between 6,000 and 24,000 euros: 21%.
More than 24,000 euros: 24%.
It is important to emphasize that the IRPF is paid the year after the sale.
Also, is it compulsory to pay in all cases? The answer is no, there are exemptions, mostly these two:
– Being over 65 years old and that the property is the habitual residence.
– When the habitual residence is sold to invest the profits in the purchase of a new habitual residence.
The municipal capital gain
This percentage to be paid is variable and is paid to the municipality where the property is located. To put it in simple words: it is the increase in value of the property during the years in which it has been ours, based on the cadastral value of the land.
To calculate it, we take into account the value of the land, the number of years that we have been owners and the tax rate that will depend on the municipality where the house is located.
It is usually paid within 30 working days after the sale of the house, but it is necessary to check this time at the town hall.
IBI – real estate tax
It should be emphasized that this tax is paid every year for the simple fact of owning a property.
Technically it is paid by whoever is the owner on January 1 of the current tax year, but there are other ways to do it. For example, divide the IBI proportionally by the time that each owner has enjoyed the property, which can be included in the final amount of the sale.
Possible expenses to take into account
– Real estate fees: selling a house is one of the most important economic decisions in a person’s life. Therefore, it is highly advisable to put yourself in good hands. Do not forget that the figure of the real estate agent is essential to advise you and manage all administrative issues, in most cases it is more profitable to pay a fee for the management of the sale and all that it entails than not to do it and sell below market price or pay more taxes for lack of knowledge.
. In the case that you have a mortgage, you have to take into account the cancellation commission that you have signed with the financial entity, it is usually around 1% of the outstanding capital, and also the cost of the registration of the mortgage charge in the Land Registry, this expense is paid by the seller and often goes unnoticed but if the buyer makes mortgage his bank will deduct it from the sale price.
If you have any further questions or need help in the sale do not hesitate to contact Living Sitges at 93 118 57 77 or by email at admin@grupliving.com.
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