Property tax set to increase in many Costa del Sol municipalities

The measures recently approved by the new Spanish government, lead my Mariano Rajoy, will have an affect this year on more than a million homes and business premises throughout the province of Malaga. Or approximately 80% of the total.

According to the decree, in 2012 and 2013 properties will be subject to an increase in the IBI (impuesto de Bienes Inmuebles) that needs to be paid to the local town hall. Around 273.000 property owners, in the municipalities of Velez-Malaga, Benalmadena, Estepona and Archidona, will be escaping these increases as the values were previously revised between 2005 and 2007.

Property owners in Torremolinos, Rincon de la Victoria, Alhaurin el Grande, Ronda, Cartama, Coin, Torrox and Antequera will see the greatest increases as they have not been revised since 2002. Although it is already underway in Antequera. These municipalities should seen increases of of about 10% in the amount to be paid.

Municipalities where the values were revised between 2002 and 2004, which include Fuengirola, Mijas and Nerja, should see increases of 6%.

Finally in the municipalities that saw revisions between 2008 and 2011, which includes Malaga, Marbella, Manilva and Alhaurin de la Torre, will see increases of 4%.

The decree does however establish an exception for municipalities where the new values were approved in or later than 2002. The increase will only be applied to properties whose cadastral value increased in the revision, approximately 50 percent of the total number of residential properties. Both Malaga and Marbella find themselves in the situation. Following the increase in values both town halls introduced measures to reduced the affect of the increase, delaying the application of the new values or offering subsidies.

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