When you sell your property the buyer’s attorney will request a Solvencia Municipal. This is an official certificate showing you have paid your real property taxes the last time they were due.
Property taxes are known as the I.B.I or Impuestos de Bienes Inmuebles and are 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 is amended following any improvements made.
Taxes are paid in arrears each year by June 30. If paid before March 31, a 10% discounts applies.
Here’s information on registration and transfer taxes.