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Form 100. Personal Income Tax Return 2022

7.3.2. Allocation of real estate income (properties available to their owners)

Owners of real estate or holders of real rights of use or enjoyment that fall on the same, must impute real estate income when the following circumstances occur:

  1. That they are considered urban real estate in accordance with article 7 of the consolidated text of the Real Estate Cadastre Law or that they are rural properties with constructions that are not essential for the development of agricultural, livestock or forestry operations.

  2. That are not affected by economic activities

  3. That the properties do not generate capital returns; That is to say, they are not leased nor have there been any other transfer of use for a fee.

However, the following properties are not subject to charges:

  • The main home.

  • Undeveloped land.

  • Properties under construction.

  • Properties that for urban planning reasons are not suitable for use.

In the case of rights to use real estate in turn, the imputation will be made to the owner of the real right, prorating the cadastral value based on the annual duration of the use period.

When the property has no cadastral value on the date of accrual of the tax or this has not been notified to its owner, the acquisition price of the right of use will be taken as the basis for imputation.

The imputation of real estate income will not apply to the holders of rights to time-share use of real estate when its duration does not exceed two weeks per year.

Imputed income

The amount resulting from applying 2% to the cadastral value will be considered imputed income, determined proportionally to the number of days corresponding to each tax period.

In the case of properties whose cadastral values have been revised, modified, or determined through a general collective valuation procedure, in accordance with cadastral regulations, and have come into force in the tax period of the fiscal year or within the period of the 10 previous tax periods, the imputed income will be 1.1% of the cadastral value.

If on the date of accrual of the tax the property has no cadastral value or this has not been notified to the owner, the percentage will be 1.1% and will be applied to 50% of the highest of the following values: that verified by the Administration for the purpose of other taxes or the price, consideration or value of the purchase.