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V1635-22 8 July 2022 · SG de Impuestos Patrimoniales, Tasas y Precios Públicos Criterion in force
IP · impuesto sobre el patrimonio

Wealth Tax exemption for assets in historic centres depends on age and protection status

An heir is inquiring whether her real estate assets, located within a Historic Centre, are exempt from Wealth Tax to apply a reduction to Inheritance Tax. The DGT indicates that the exemption requires the assets to be at least fifty years old and to have full protection under the urban planning catalogue.

The question raised

Whether said assets would be exempt from Wealth Tax.

The DGT's ruling

In order for real estate located in Historical Sites or Complexes to be exempt from Wealth Tax, they must be at least fifty years old and be included in the Comprehensive Protection Catalogue according to the Urban Planning Regulations. The DGT does not certify the exemption, as this is the competence of the Management Office, and the burden of proof regarding compliance with these requirements lies with the taxpayer.

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