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Laura Leyshon: Gran Canaria's top selling estate agent

Gran Canaria estate agent. Best seller. I work with foreign buyers ans sellers.

Why Choose Laura & Las Palmas Property

I’m Laura Leyshon and I’m Las Palmas’ resident property expert.  I work for RE/MAX Cony Overseas, one of the city’s oldest estate agencies and the first RE/MAX office to open in Europe. Cony Overseas has an excellent local reputation and has helped hundreds of foreign buyers and sellers in Las Palmas and all over Gran […]

You are here: Home / Gran Canaria Property Articles / SELLING GRAN CANARIA PROPERTY / Selling Gran Canaria Property: Plusvalía, The Tax You Shouldn’t Have To Pay

Selling Gran Canaria Property: Plusvalía, The Tax You Shouldn’t Have To Pay

May 14, 2018 by Laura Leyshon

Plusvalia tax is a local Spanish property sellers that many people should not have to pay

Plusvalia is a local authority tax on the rise in land value. It is paid by the owner when they sell a property and is a major source of funds for municipal authorities all over Spain.

However, since official land values haven’t dropped in line with property prices since the crisis, many sellers have had to pay Plusvalia tax (known officially as the Impuesto Sobre el Valor de los Terrenos de Naturaleza Urbana) even when they lost money on their property.

Last year, Spain’s Supreme Court ruled that it was unacceptable for local authorities to tax people who had lost money on their property.

In theory, all you now need to do is prove to the local authorities that your property sold for less than you paid for it to be exempt from Plusvalía.

However, many municipios in Gran Canaria and all over Spain still insist on collecting the tax and say it is up to the seller to reclaim it in court. Since this can cost over 1000 euros, many sellers don’t bother and the local authorities simply keep the money.

The Las Palmas de Gran Canaria city authorities collected 7.7 million euros in Plusvalia in 2017 and expect 6.6 million in 2018.

If you sell a Gran Canaria property at a loss, seek the latest advice about plusvalia tax from your local estate agent or financial advisor. The situation varies depending on the municipality and getting it wrong could cost you a lot of money in tax payments or legal fees. 

Basic Plusvalía Tax Calculator.

More on Gran Canaria property taxes.

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Laura Leyshon
Laura Leyshon
Gran Canaria Estate Agent at Las Palmas Property
I'm Laura Leyshon and I help foreign property buyers and sellers in Gran Canaria. I work with RE/MAX Cony Overseas, one of the island's oldest and most prestigious agencies, and I offer a complete, professional service with a personal touch. If you want to buy or sell property in Gran Canaria and want to work with one good agent, please get in touch.

Filed Under: Las Palmas Property News, SELLING GRAN CANARIA PROPERTY Tagged With: Gran Canaria estate agent, Laura Leyshon tax, Plusvalia tax Canary Islands, plusvalia tax Gran Canaria, sell Las Palmas property, Selling Gran Canaria property

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I'm Laura Leyshon and I help property buyers and sellers in Gran Canaria. I work with RE/MAX Cony Overseas, one of the island's oldest and most prestigious agencies, and I am one of Spain's top-performing estate agents. I offer a complete, professional service with a personal touch. Please get in touch for a free consultation or property valuation. Read More…

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