Taxes on Jardines

With regard to non-resident tax rates for the Jardines, can anyone confirm any of the following:

• Is the rate of Income Tax for for those that choose not to rent 25% of 2% or 1.1%?
• Can a Spanish registered mortgage be offset against the property value on Income Tax and Wealth Tax?
• Is the taxable rate likely to be purchase price including or not including IVA?
• Heard anything about the rate of interest for local tax rates? 
• Heard anything about the likely community charge costs?
• Know anything about costs of water and electric connection?

Hi 1098,

I've budgeted £80 per month maintenance to PW and £50 per month for water & electicity. These are the 2 monthly charges I asked PW when I first visited their head office and signed up for my apartment. These figures are just guesstimates and will hopefully be a bit less.

When estimating the overall buying costs for our apartment, I hope all tax will be covered within the 10% everyone tells us to add to the list price. As I'm sure you know, 7% is IVA and the other 3% includes everything else inc' legals.

I hope Water and Electricity connections are free but if not I'd like to think they'll be minimal......fingers crossed.

Midge

Thanks Midge

Hopefully they are high. 

If my calulations are correct and including yours, the total monthly costs (without mortgage offset)  would be around £210 per month including all the taxes!

I would be interested th hear if anyone else has done any calculations?