In a bid to address climate change, energy efficient properties are to receive discounts of up to 20% of the yearly property tax (IBI) in Spain. The tax reductions will come into effect from the 1st of January, 2016 and are part of a wider government scheme to promote sustainability efforts and encourage improvements in energy ratings in homes across the country. Properties that are built and designed to decrease energy consumption will now not only bring far lower energy bills, but also significant tax rebates.
While it is now a legal requirement in Spain to obtain an energy efficiency certificate on homes that are being sold or rented out, the scheme is expected to incentivise long-term home owners to have their properties assessed. The renewable energy credit will also be awarded to home-owners who make home improvements that will lessen their residential energy consumption, such as installing renewable energy systems like solar and wind power.
Discounts for the energy efficiency certificates taken out on homes will range from between 4% and 20% of the IBI property tax. The added incentive will be included in the amendment to the 2016 budget and is a big step for Spain towards implementing the kind of important measures that will be necessary if the environmental objectives outlined by the EU are to be achieved.
Tax reductions will be determined by the given energy rating, which ranges from Grade A to Grade E. Properties that are not yet rated, and the two lowest ratings, F and G will receive no discount. Rebates of property tax will otherwise be awarded as follows:
- Grade A - 20%
- Grade B - 16%
- Grade C - 12%
- Grade D - 8%
- Grade E - 4%
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Our selection of spectacular villas combine contemporary design with high quality, sustainable and eco-friendly materials. Domus Designs villas are built and designed to B and C+ energy rating standards, which will under the new scheme incur IBI tax rebates of between 12-16%.
Set within some of the most sought after picturesque locations along the Costa del Sol, the villas combine unique "thermo walls" (insulated polystrene walls) with the use of the most economical energy techniques available today (solar energy, heat pumps with up to 700% efficiency) as well as highly resilient doors and windows, ensuring all villas meet high energy ratings standards.