Around 400,000 property owners in the city of Valencia have begun to receive the receipt of Real Estate Tax (IBI) 2024, in which you can already see the effect of the approved rebate by the municipal government of the mayor MarÃa José Catalá: an average reduction of 72.5 euros, which represents a total saving of 70 million euros as a result of the 20% reduction in the general tax rate. The total beneficiaries are 700,000 residents of the city.
However, the casuistry is extensive. depending on the cadastral value of the homes subject to the tax: from the 40 euros savings experienced by a 100 square meter apartment and 27,500 euros on Padre Urbano street (Trà nsits), to 47 euros for a 32,000 euro home in Benimà met; 61 euros in Malilla for a 120 square meter apartment and 42,000 euros; 78 euros in the Mercat neighborhood with 54,000 euros of cadastral value, or 128.48 euros discount in Penya-roja, next to the City of Sciences, for 100 square meters and 88,605 euros.
The most representative example may be the one that reflects an average receipt. Thus, with a cadastral value of 50,000 euros, a home paid 361.5 euros in IBI last year, and now it will pay 289 euros, that is, it experiences a savings of 72.5 euros. In the case of application of the bonus for large familywhich goes from 30% to 60%, the reduction will be 137.4 euros, going from paying 253 euros to 115.6.
“What people are asking these days is: How much has the municipal government of MarÃa José Catalá lowered your IBI?” ​​says the Councilor for Finance and first deputy mayor, MarÃa José Ferrer San Segundowhich ensures that the tax cuts arrive, “fulfilling what was promised” to 99% of the city’s residents. “To those same Valencians to whom, without exception, PSOE and CompromÃs raised municipal taxes,” adds the head of the Treasury, who she describes as “important respite” the reduction after the “fiscal hell” of recent years. In this way, Valencians will stop paying 70 million in municipal taxes this year 2024, which represents the same amount in the drop in the City Council’s collection.
According to San Segundo, this is “money that will stay in the pockets of Valencians and that will also contribute to further energize the economy and boost job creation“. The councilor explains that the average IBI receipt in Valencia “is 335.35 euros, so the average reduction for each neighbor exceeds 70 euros,” adds the deputy mayor.
Likewise, it emphasizes that the IBI bonuses for large familiess, 60% to those in the general category and 90% to those in the special category. In total, the 3,800 large families that pay IBI taxes in Valencia will be able to benefit from these measures, without being linked to the cadastral value of their home as was the case until now.
Upcoming taxes
Other taxes whose reduction taxpayers will soon notice are those of Vehicles, with an average rate reduction of 8.5% and a total impact of 2.08 million; the one of capital gainwith a legal maximum of 95% due to death among family members, and transmissions of real estate inter vivos with economic activity, 95% discounted.
