ITP transfer tax — Balearic Islands
ITP (Impuesto de Transmisiones Patrimoniales) is the Spanish stamp duty on second-hand residential property. The Balearics use a tiered structure — 8% on the first €400K, rising to 13% on amounts above €2M. The calculator computes your slab-by-slab liability instantly.
| Band | Rate | Taxable | Tax |
|---|---|---|---|
| €0–€400,000 | 8% | €400,000 | €32,000 |
| €400,000–€600,000 | 9% | €200,000 | €18,000 |
| €600,000–€1,000,000 | 10% | €150,000 | €15,000 |
When ITP applies
ITP is the transfer tax for second-hand residential property in Spain. New-build (off-plan or first-occupancy) purchases pay IVA (10% VAT) plus AJD stamp duty (1.2%) instead — a separate calculation. Most foreign-buyer transactions in the Balearics are second-hand, so ITP is what you'll pay.
When and how it's paid
ITP is due within 30 working days of signing the public deed at the notary. Your gestor or lawyer files Modelo 600 with the Agencia Tributaria de les Illes Balears and pays from the funds you transferred for completion. The receipt is required to register the property in your name at the Registro de la Propiedad — without it, the transfer doesn't legally complete.
Tiered, not flat
The Balearic ITP structure works in slabs (like income tax), not as a single flat rate on the whole price. A €750K purchase is taxed at 8% on the first €400K, 9% on the next €200K, and 10% on the final €150K — total €65K, an effective rate of ~8.7%. The calculator shows the slab breakdown so you can see exactly where each euro goes.
What's not included
ITP is one line in your closing costs. You'll also pay notary fees (~0.3-0.5%), property registry fees (~0.1-0.3%), legal/gestor fees (~1-1.5% if you use a lawyer), and possibly agency fees on the buyer side (rare in Spain — usually seller-paid). For the full breakdown, use the total transaction cost calculator.
Browse active Balearic listings filtered by your budget — we surface ETV licence status, cadastral data, and neighborhood signals you can't get on Idealista.
Browse properties →