Tax savings

REAL ESTATE TAX: Levied annually on property owners.

THOUSANDS of Rincon de la Victoria families are to benefit from tax cuts.

A total of 9,028 families are to benefit from cuts in property tax (IBI) thanks to an initiative recently launched by the Malaga regional government.

As stated by Interim Mayor Antonio Manuel Rando, the planned tax cuts are to be applied to as many as 6,344 homes (46.4 per cent of homes in the municipality) through the Tax Office.

Those to benefit from the initiative must be the proprietors of their place of residence and have no outstanding tax debts. They are not required to apply for the tax cut as it will be directly applied. Families living in properties with a cadastral value between €75,000 and €100,000 are expected to benefit from a €81 tax cut.

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