There is another tax to be paid in inheritance acquisitions, which is a council tax commonly called “plusvalía”.

It is paid only on the value of the land for urban property, whether built on or not, so includes buildings that are intended for non agricultural purposes, and land to be build on, or developed, always with non agricultural purposes.

If it is a shared building, it wil tax the proportional share of the ground area of eachindividual flat,

It is based on cadastral records, within the registry of property of “Naturaleza Urbana”

This registry shows, clearly differentiated, the ground value “valor del suelo” (value of the land) the “ valor de la edificación” ( value of the building), and the “ valor catastral” ( the total value which is the sum of both) .

In the annual cadastral receipt of IBI (Annual Council Tax over immovable property) those data appear clearly differentiated.

The plusvalía is charged only over the sum that appears on the “ valor del suelo”.

Remember that, if the asset was shared between the deceased, and his or her partner, the tax is to be charged only on the deceased’s part which is going to be acquired by succession

HOW MUCH: To calculate the tax for each beneficiary you must enter in the calculator the amount of “ valor del suelo” that represents the beneficiary’s individual share of the asset.

WHO: The tax is to be paid by each beneficiary of any single assets over the amount of his or her individual share over the asset.

If the deceased was married, no tax is to be charged if the asset is to be allocated to the widow or widower in the liquidation of the matrimonial property regime.

WHERE: In the local Tax offices of the Council where the immovable property is located.

WHEN: The information to liquidate the tax ( date of purchase by the deceased, date of death, referencia catastral, beneficiaries’ details) must be provided to the council within six months of the date of death.

Until there is proof that this information has been given to the council the asset will not be recorded in the Land registry in the benficiaries name.