Benidorm again lowers the IBI – property tax

by Lorraine Williamson

BENIDORM – Homeowners in Benidorm will pay an average of fewer than €400 in IBI, the real estate tax, next year. This is the second consecutive reduction that the city council has applied. 

The IBI is calculated based on the cadastral value of the property. Then a coefficient determined by each municipal council is applied. The tax rate in Benidorm now goes from 0.670 cents to 0.667. 

Toni Perez is the mayor of the well-known Costa Blanca resort. He explained that “until so far the average IBI account in Benidorm has been above €400. However, with this new reduction we are breaking that threshold of €400”. 

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The mayor also pointed out that “in 2019 we have pledged to gradually reduce the tax burden on households and businesses and we are doing so. In addition, we are applying this IBI reduction in a time when the general economic situation is prompting other governments to increase or freeze tax rates and fees.” 

More tax cuts in the coming years 

According to the mayor, the tax reduction is possible because of the planned and responsible management of municipal resources over the past seven years. Pérez also indicated that the municipality aims to continue the tax reduction strategy in the coming years. 

Also read: Spain to revise the cadastral value of 825,000 properties

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