05 Apr Transfer tax has been raised to 8 per cent in Andalucía on property values over € 400,000
The transfer tax, or Impuesto de Transmisiones Patrimoniales (ITP), applicable to private real estate property sales, is for the time being in Andalucía a 7% of the value declared in the contract for private sales. However, as from March 19th, 2010 the tax has been raised to 8% for the stretch of the value of the real estate property that exceeds the amount of 400,000 Euros. The same new rate will apply to garages (except for those annexed to houses with a maximum of two units) for the stretch of the value of the real estate property that exceeds the amount of 30,000 Euros.
Published on: Apr 5, 2010