Are you thinking of buying an apartment on the beach, in the Valencian Community? These are the associated taxes that you must take into account.
The purchase of a new or second-hand home is associated with the payment of a series of taxes that vary according to the autonomous community. Knowing these taxes, you can buy an apartment on the beach in the Valencian Community knowing what expenses you must assume.
Currently, there are many individuals and national and foreign investors who choose to buy homes in Castellón, Valencia or Alicante, places that are especially attractive for the tourism sector.
If you are thinking of buying a new or second-hand home, you should know in advance the expenses that are generated from the original purchase price to plan how your budget is distributed.
It is advisable to have a saving of at least 30% to obtain a better Bank financing, but the conditions depend a lot on the entity with which a mortgage is contracted.
Buying an apartment on the beach in the Valencian Community, new or second-hand?
When you buy a first-hand home (new, first-hand) you have to pay two taxes:
- The VAT 10% that is taxed to the Public Treasury
- The 1.5% of AJD (Documented Legal Acts) that is taxed to the Generalitat Valenciana. Each autonomous community applies its own percentage.
It should be noted that both percentages are calculated on the purchase price that appears in the deed.
When you buy a second-hand home, you pay a single tax:
- The 10% of the ITP (Patrimonial Transfer Tax) to the Generalitat Valenciana.
This percentage is also calculated on the purchase price of the deed.
Deadlines to make the payment of taxes on the purchase of a home
The terms to pay the amount of these taxes vary:
. The VAT tax must be settled by the buyer on the date of signing the deed of purchase of the home. The receiver is the seller and the one who is in charge of declaring it to the Public Treasury.
. The AJD tax (Documented Legal Acts) must be paid within 30 days after signing the deed. After that time, the amount has a surcharge. To pay, you must fill out the payment document (MOD. 600) online with the details of the deed. Then you have to go to the bank to pay and present the receipt at the settlement office together with the deed. A process that can be carried out by the buyer himself or the agency that he hires, which is the most common procedure.
Differences between taxes, contributions and rates
In the economic field, the tribute is understood as a type of contribution that all citizens must pay to the State so that it redistributes it equitably or according to the needs of the moment.
Taxes: types and examples
According to the General Tax Law, taxes are taxes demanded without consideration. Your taxable event is made up of business, acts or events of a legal or economic nature that reveal the economic capacity of the taxpayer as a consequence of the wealth he possesses (heritage), the income you get (rent) or the consumption you make.
- Based on the Imposition Method:
- Direct Taxes: These directly tax the wealth of individuals or companies. Examples: Income Tax (IRPF), Corporation Tax, Wealth Tax
- Indirect Taxes: They are applied to goods and services, indirectly affecting wealth. Main Example: Value Added Tax (VAT)
- Based on Taxpayer Circumstances:
- Personal Taxes: Taxes that consider the personal circumstances of the taxpayer. Examples: Personal income tax, Corporation tax
- Real Taxes: They do not consider personal circumstances, but the taxable event. Note: Assessment is independent of family conditions or age.
- Based on Other Factors:
- Objective Taxes: They do not consider the personal circumstances of the taxpayer.
- Subjective Taxes: Consider the personal circumstances of the taxpayer.
- Periodic Taxes: They are paid more than once over time.
- Instant Taxes: They are paid once for certain events.
Special Contributions: Earning a Benefit
Are payments to the administration that are made because a consideration has been received. It is the most significant difference with respect to taxes.
Examples of special contributions could be: a metro stop that revalues a piece of land, the paving of a street or the construction of a square...
Fees: only paid if a public service is used
There are several types of fees:
. State Fees: Applied by the central government for services provided by the national government.
. Autonomous rates: Those applied by the Government of the Autonomous Community or the corresponding region.
. Local rates: Those applied by the municipalities. For example: the water supply or a permanent ford.
. Administrative fees: Those that must be paid for the use of a public service. For example, for the issuance of the ID or passport.
Knowing the taxes in depth will help you buy an apartment on the beach in the Valencian Community, better understanding those you must face and why.
Garden City Buildings, in Oropesa del Mar/Cabanes, in the Valencian Community.
On the municipal border between Oropesa del Mar and Cabanes, you will find the Ciudad Jardín 1, 2 and 3 buildings; surrounded by natural areas, such as its Torre la Sal beach, the Prat de Cabanes natural park or the 500,000 m2 of green areas that Marina d'Or has... where you will also find several leisure parks, shows, parades and the largest spa in Marine water of Europe.
In addition, all the necessary services available, such as supermarkets, schools, pharmacies, restaurants, cafeterias...
These buildings also have the best communications by road, with access to the N-340 and the AP-7. Castellón Airport is only 20 minutes away, with several national and international daily routes.
You can take an AVE train from Castellón and the capital of the province, Valencia, is only 1 hour from the apartments, so you can always make a getaway and go down for dinner at the best restaurants in the city.
Do not think twice to buy an apartment on the beach in the Valencian Community, your holidays all year round are waiting for you.