These are the changes to the Capital Gains Tax in Zaragoza

Changes are coming to the Capital Gains Tax. The Government of Zaragoza has given approval to the extension of bonuses that have been applied until now. A modification that will affect certain cases such as inheritances of real estate.

These changes, introduced by a regulatory proposal proposed by VOX, contemplate raise the cadastral value of the properties to the amount of 200,000 euros to which the bonus may be applied without being a first home.

Previously, it was set at 150,000 euros. In this way, the Zaragoza City Council swill continue to reduce the tax by 50% in these properties, but as long as the threshold of 200,000 euros is not exceeded.

Currently, in Zaragoza, a 95% bonus is applied – the highest allowed by state regulations -, regardless of the cadastral value and for mortis causa transfers of the habitual residence and properties used for business activity.

From now on, the bonuses are extended to other properties. In addition to homes, they will also apply to garages and storage rooms in which it will go from 60% to 65%.

Likewise, the maximum limit of the cadastral value of the property to which the garages and storage rooms are linked is raised to the amount of 200,000 euros.

Likewise, another modification has been approved with the objective of guaranteeing that the bonus on the additional property is also applied in cases in which the taxpayer has his habitual residence outside the municipal area from Zaragoza.

The regulatory proposal will be sent to the Plenary Committee on Finance and European Funds for its opinion and possible incorporation of individual votes. Subsequently, it must be submitted to public exhibition and finally it will be submitted for approval by the municipal plenary session.