What is IBI and How Much Should I Expect to Pay in Spain?
In today’s Two-Minute Tuesday, Keith and Sophia from Target Property Spain answer a key question from foreign buyers: What is IBI, and how much should I expect to pay?
IBI, or Impuesto sobre Bienes Inmuebles, is Spain’s version of council tax. It helps fund local infrastructure such as:
- Street lighting
- Road sweeping and cleaning
- Maintenance of public highways
- Emergency services
Unlike community fees, which cover the upkeep within the gates of your urbanization (such as pools, gardens, and communal areas), IBI covers everything outside the gates, including local public services.
How much should you expect to pay?
- For a two-bedroom apartment in Mijas Costa, you’ll likely pay between €500 to €600 per year.
- For larger properties like villas, it can be upwards of €1,000 annually.
In a nutshell, IBI helps fund essential public services in the local area and can vary depending on the size and type of property you own. Stay tuned for more insights in our next Two-Minute Tuesday!