How much do you pay to inherit your parents' house in Catalonia?

Question

José Manuel Alburquerque · Accepted Answer

Often nothing or very little. If it was the father's or mother's principal residence, the children can deduct 95 % of its value, with a limit of 500.000 euros between them all, provided they keep it for five years. In addition, each child deducts 100.000 euros. The resulting tax is reduced by 60 % if the child inherits up to 100.000 euros and by less the more they inherit. On top of that comes the municipal capital gains tax. The allowances Principal residence. 95 % of its value is deducted. The limit of 500.000 euros is shared among the heirs, but each one's limit never falls below 180.000. If the father or mother was living in a care home, the home that was their principal residence before they moved in counts as such, even if it was later let. If they were living in a child's home, their own home counts if they lived in it in the last ten years and did not let it or give anyone else the use of it. Each child deducts 100.000 euros, or more if they are under 21. If the child sells the house within five years, they must pay the amount saved within a month, with interest. They avoid this if, within six months, they put all the money towards buying their own principal residence or paying off the mortgage on the one they already have. An example A widowed mother leaves her two children her flat worth 300.000 euros and 40.000 euros in the bank. Each child receives 170.000. Each deducts 142.500 for the home and 100.000 for being a child. Neither pays anything. An only child who inherited a house worth 400.000 euros and 200.000 in the bank would pay about 6.400 euros. Even if there is nothing to pay, a return for the “impuesto de sucesiones”, the Spanish inheritance tax, must be filed within the six months following the death. Municipal capital gains tax The municipal capital gains tax return is filed within the same period. Many town councils reduce it by up to 95 % when children inherit their father's or mother's home, if this is requested within the time limit. These are the Catalan rules, which apply if the father or mother spent more days in Catalonia than in any other autonomous community in the last five years.