Energy efficient properties to receive tax reductions

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TAX BREAKS: Big reductions are possible.

AS of next year, property in Spain is set to have tax reductions applied depending on their energy efficiency grading following adjustments to the 2016 general budgets.

This will mean property owners will be eligible for reductions of 4 to 20 per cent on their IBI property tax, depending on the grading on their energy efficiency certificates.

The Treasury Ministry has established a series of maximum reductions applicable to the taxes with those at grade A, the highest possible grade, receiving discounts of up to 20 per cent and those at the lowest grade, E, eligible for discounts of up to 4 per cent.

Energy efficiency certificates, in theory, at least, have been obligatory for all properties put on the market for sale or to rent since new regulations came into effect in June 2013.

Tinsa energy consulting company has said the tax reductions are a very effective way of raising awareness of the importance of energy efficiency.

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