What taxes apply when buying a property?
2 types of taxes apply when buying a property. The fist one is called I.V.A (Impuesto al valor agregado), which is a one time purchase tax. This tax is equal to 12%. Please note that on 99% of the cases, property is never registered at the real sale value but at a substantially lower value, therefore your tax is based on the registered value. We can tell you what the current registered value is in order to determine you purchase tax.
