There is no "wealth tax" in the Valencia Region. Although it still exists, there is 100% allowance. Other regions have reintroduced it but you have to be virtually a millionaire to pay any.
Valor Cadastral is rateable value of the property, not the cost of the property and will include the land.
IBI is the local council tax. For a 3 bedroom house our last bill was €240 for the year. For a flat I assume it would be less.
The form 210 is for your imputed income tax, the amount of benefit you receive from your property. It's not a wealth tax. When we were non residents the tax for a 2 bedroom flat which we had was €43 a year each. This has probably gone up in the last 5 years but the value of property has gone down.
Block maintenance. Every group of owners in Spain form a "community". Depending on the facilities you have will depend on the charge. You have no lifts, no swimming pools, no gardens so the community charge will be, I suspect, very low. It will only pay for cleaners in communal areas, lighting in the hallways and so on. The community charge varies greatly so you need to check on what yours would be. Probably in the region of around 100 euro a year but could be more, could be less. We pay €500 a year but we have 5 swimming pools, several garden areas, employ a security guard and street cleaners with a huge lit up area within the community. It is a community of 180 properties and we pay depending on the square metre area of the property.
As a quick, not very scientific, guide let's see. Your cadastral value is €20,000. As you will be living in a city then we'll say your council puts 2% as the payment. That is €400. The tax to pay is 25% so that is €400 x 25% or €100 for IBI for the year. You need to check the cadastral value as this may bear no relation to the cost of the property just like council tax bands in UK but I have no idea what the 70% relates to unless that is the cadastral value. In which case it would be 20,000 x 70% - value. Then the council percentage (ours is 0,725%) times the 25% tax to be paid.
Advice: Use a solicitor or gestor to do all your returns, especially in the first couple of years.
This message was last edited by bobaol on 02/05/2014.