Once you own your property you will be responsible for yearly property taxes (the I.B.I or Impuestos de Bienes Inmuebles). This is paid to the local municipality.
The amount is 1% of 80% of the assessed value given to your property by the Cadastral Office (Catastro). The assessed value of the property is set each year and will be amended following any improvements made.
Taxes are paid in arrears each year by June 30. If paid before March 31, a 10% discount applies.
The easiest way to pay your property taxes is to use the attorney who assisted you when you purchased the property.