Payback for vendors

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Some sellers find themsleves taxed on captial gains despite losing money on the sale of a property

PROPERTY owners who lost money when they sold their homes, premises or land are entitled to claim back the ‘plusvalía’ tax, according to a judgment from the Constitutional Court (TC) in Madrid.
‘Plusvalía’ is a local tax based on the property registry (catastral) value, which is calculated on a fixed local authority percentage and the years the property has been owned.

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1 COMMENT

  1. We have a ground floor apartment with communal pool in a village approx 2 Kms from City of Orihuela. Purchased 11 years ago ,no mortgage, debating whether to sell as not able to visit as often now. Is it worth selling it and if so can a suitable agent be suggested.

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