Annual Expenses
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TAXES , WATER , ELECTRICITY,COSTS PROPERTY, TAXES , LIVING AND RETIRING IN SPAIN
LOCAL TAXES
The local tax is approximately £160 including rubbish collection.
Non Residents are required to pay a wealth tax: 0.05% of the declared value on the title deeds (escritura de compra y venta)
Residents or anyone living in Spain for more than 180 days of the year should pay their taxes in Spain. There are various allowances in addition to the basic allowance of an approximate sterling equivalent of £6000 - £ 12.000 for a married couple
URBANIZATIONS
Should you decide to live in an urbanization, the Annual fee will depend upon the type of facilities there are to be maintained, for example swimming pools, parks, etc . The average Annual charge for the modern complex with a community swimming pool, would be around £400 sterling equivalent.
WATER
The water you use is metered; the cost for the average apartment would be approximately £160 and for a small detached property around £500
CAR TAX
Although not having a road fund licence as in the U.K. a local tax is payable, depending upon the size of the car and the locality. This Annual charge (like most taxes) is less than in Britain, and is payable in arrears. For example the tax payable to Alicante Ayuntamiento (council office) for a Seat Leon for the year 2005/6 (taxes are paid in arrears) was € 86.00
ELECTRICITY
The cost of electricity in Spain is approximately 20% more than the U.K. There is not the competition to force the price down.
The white meters for cut price electricity used for electric radiators is available, most people heat their house with gas, using the gas bottles which are delivered to the home, or can be obtained at various local distributors, by exchanging empty bottles for new. Our heating bill using this method, was €80.00 last winter.