Sorello Guides

Transfer tax (ITP) and stamp duty (AJD) in Balearic Islands

Balearic Islands taxes the transfer of immovable property at 8 %, towards the heavier end of the range. It falls on the declared value of the property, not on the mortgage and not on a price the deed does not state. Balearic Islands charges a progressive scale rather than one rate, so the tax is computed bracket by bracket and the average rate rises with the price. Reduced rates exist for a habitual residence and for younger buyers; both have to be claimed in the return.

The rates, and where each one comes from

Rates, with the article each was read from
What it applies toRateLegal basis
Transfer of immovable property, on the value up to 400.000 €8 %
Transfer of immovable property, on the value up to 600.000 €9 %
Transfer of immovable property, on the value up to 1.000.000 €10 %
Transfer of immovable property, on the value up to 2.000.000 €12 %
Transfer of immovable property, on the value above the last threshold13 %
Habitual residence within the ceiling4 %art. 10.c) TR aprobado por D.Leg. 1/2014 (redacción DF segunda.14 Ley 12/2023)
Buyer under the age limit, habitual residence2 %art. 10.d) TR aprobado por D.Leg. 1/2014 (redacción art. noveno Ley 11/2023, modificado por DF segunda.15 Ley 12/2023)
Stamp duty on notarial documents1,5 %art. 15 TR aprobado por D.Leg. 1/2014 (redacción DF segunda.3 Ley 19/2019)
Stamp duty, habitual residence1,2 %art. 17 TR aprobado por D.Leg. 1/2014 (redacción DF segunda.18 Ley 12/2023)

What that costs

Transfer tax due
Declared valueTransfer tax due
180.000 €14.400 €
450.000 €36.500 €
900.000 €80.000 €

Illustrative declared values, not market figures.

Stamp duty is not added on top

On a new-build the deed is stamped at 1,5 % on top of the VAT, which is why a new-build and a resale at the same price are not the same transaction.

How it ranks

Set against every other region in this guide, its transfer-tax rate is the seventh lowest.

Line the regions up by stamp-duty rate and this one is the eighth lowest.

The reduced rates, and who actually qualifies

A dwelling bought as the buyer's habitual residence is taxed at 4 % when its declared value does not exceed 270.151 €. A buyer under 36 buying a habitual residence within the same ceiling pays 2 %. Both are all-or-nothing: a declared value one euro over the ceiling is taxed at the general rate on the whole amount, not just on the excess.

Municipal guides in this territory

Sources and licences