2010-02-16-Taken from One of the Free Papers
Q. Will I have to pay any taxes in Spain if I only own a holiday home there?
A: Unfortunately, yes. You are deemed a non-resident in Spain if you spend less than 183 days a year there. As a non-resident you are liable for two annual taxes, wealth tax (patrimonio) and income tax (impuestos sobre la renta). Wealth tax is charged on the value of all your assets in Spain, but is only at a rate of 0.2% in general, so the amount payable is very small. Income tax is charged on the rental income from your holiday home and is charged at 25%. However, if your property is not let out than you will be taxed on a deemed income of 2% of the value of the property.
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