Determination of the amount of attributable income

In general

The determination of the attributable income corresponding to each of the urban properties generating said income in the terms discussed in the previous section is carried out by applying the following percentages:

2%, in general . This percentage must be applied to the cadastral value of the property that appears on the Real Estate Tax (Urban) receipt for the 2024 fiscal year.

1.1 percent in the following cases :

1. As in 2023, during 2024, properties located in municipalities where cadastral values have been reviewed, modified, or determined through a general collective valuation procedure, in accordance with cadastral regulations, provided that they have come into force on or after January 1, 2012, will be subject to tax.

2. Properties that, on the date the tax is due (normally, December 31), have no cadastral value or this has not been notified to the owner.

   The percentage of 1.1% will be applied to 50% of the highest of the following values:

   • The price, consideration or acquisition value of the property.

   • The value of the property verified by the Administration for the purposes of other taxes.

Note: No deduction of any type of expense will be made on the amount resulting from the application of the percentage that applies in each case.

Properties acquired, transferred or used for different purposes in 2024

In the case of properties acquired or transferred in the 2024 financial year or properties that have been leased, subleased, or used for an economic activity for part of the year, as well as in other cases where the property has been at the disposal of its owners or usufructuaries for only part of the financial year, the income attributable for this purpose will be the proportional amount corresponding to the number of days included in said period.

Special case: real rights of use by turn over real estate

The right of timeshare use, which may be constituted as a limited real right or as a seasonal lease contract, will give rise to the imputation of real estate income only in the cases of real estate timeshare rights over real estate.

In these cases, the imputation must be made by the owner of the real right by applying the percentage of 2% or 1.1%, as appropriate, to the result of prorating the cadastral value of the Real Estate Tax (IBI) based on the annual duration (days, weeks or months) of the period of use.

If on the date of accrual of personal income tax the properties do not have a cadastral value or this has not been notified to the owner, the acquisition price of the right of use will be taken as the basis for imputation.

The imputation of real estate income to the holders of these rights will not apply when their duration does not exceed 2 weeks per year.