The President of the Xunta de Galicia, Alfonso Rueda, announced, in the Debate on the State of the Autonomy, that his Government will reduce the Property Transfer Tax to 8% from 2024 and will automatically grant the "Tarxeta Benvida" to all households that meet the income requirements without needing to fill in any form.
In line with what has been advanced in recent days, in which the Galician president stated that the general policy debate would host the announcement of measures that the Xunta will then implement in the regional budgets for 2024, Rueda has highlighted a new tax cut that he has framed within the objective of "guaranteeing the right to housing", one of the areas in which, as he has pointed out, "political action is most necessary today".
After stressing that Galicia will have budgets in due time and form despite not having the necessary basic information that the State Government must provide, he stated that the accounts for next year will reduce Property Transfer Tax by an additional point, which will be set at a general rate of 8%. This, he said, will mean extra savings of €1,000 for anyone buying a property worth €100,000 or €2,000 for a property worth €200,000, and so on.
Rueda has established Galicia as one of the communities with the best tax rates for incomes of up to €20,200 and with the lowest taxes for buying a home and has stressed that this new tax rebate "reinforces one of the most ambitious housing policies in Spain".
He recalled that this announcement is in addition to the one the Xunta made in recent weeks to also turn Galicia "into the autonomous community with the lowest taxes for buying a second-hand vehicle". Specifically, to promote sustainable mobility, the tax is lowered from 8% to 3% in general and is completely eliminated for electric vehicles. He pointed out that "60,000 people a year will benefit from this".
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