In compliance with Law 31/2022, of 25TH of December, on the general budget of the Autonomous Community of the Balearic Islands for the year 2023.
Tax rate applicable in the form of onerous transfers of assets (onerous transfers of real estate and constitution and transfer of rights). The tax rate will be the average rate resulting from the application of the following rate according to the real or declared value – if the latter is higher than the real value – of the real estate property subject to transfer or constitution or assignment of the transfer of right
| Property value from (euros) | Total tax due (euros) | Rest of the value up to (euros) | Applicable rate (%) |
|---|---|---|---|
| 0,00 | 0,00 | 400.000,00 | 8,00 |
| 400.000,01 | 32.000,00 | 200.000,00 | 9,00 |
| 600.000,01 | 50.000,00 | 400.000,00 | 10,00 |
| 1.000.000,01 | 90.000,00 | 2.000.000,00 | 12 |
| 2.000.000,01 | 210.000 | Onwards | 13 |
Reduced rate of 4 %: when the real or declared value – in the case that the latter is higher than the real value – of the property is equal to or less than 270151,20 euros, and provided that the property acquired must constitute, at the time of purchase, the buyer’s main residence, under the terms established by the regulations governing personal income tax, and the purchaser didn’t hold any other right of property or use over any other dwelling.
Tax on documented legal acts
In notarial documents: 1.5%.
To consult other special types in property transfers and documented legal acts, click here