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Spain To Give Tax Reductions On Energy Efficient Homes From 2016

Spain To Give Tax Reductions On Energy Efficient Homes From 2016

Spain makes an effort to address climate change, and will now give a tax reduction to energy efficient houses with up to 20% of the annual property tax (IBI). These tax cuts will take effect from January 1, 2016 and is part of a large state scheme with a focus on improvements in energy ratings across the country. Properties which are built energy efficient will now not only bring far lower energy bills, but also provide substantial tax cuts.

There are legal requirements in Spain to have an energy certificate for homes sold or rented out, the scheme is expected to stimulate long-term homeowners by having their properties assessed. Renewable energy cuts will also be awarded to homeowners who improve homes so that the dwelling's energy consumption goes down, like for example. installation of renewable energy systems such as solar and wind power.

Discounts for energy efficiency will vary between 4% up to 20% of the property tax. This additional incentive will be included in the changes for the 2016 budget and is a major step for Spain to undertake this kind of important measures that will be needed to achieve the environmental goals outlined by the EU.

Tax cuts will be determined by the given energy assessment, ranging from grade A to E. Properties which have not yet been assessed, and the two lowest grades F and G will receive no tax relief. Reduction in property tax will be as follows:

Class A - 20%
Class B - 16%
Class C - 12%
Class D - 8%
Class E - 4%

Perfect Marbella has several projects available for sale that meets both Class A and Class B. Check our website under "New Developments" for the latest in energy-efficient houses.