Catalonia to Charge Banks With Exponential Tax on Empty Homes

The Regional Government of Catalonia (Generalitat) will apply an additional charge on the banks owning the empty homes, the more of them possessed, the graver will be the fine, according to the secretary of the Housing Department, Carles Sala.

In an interview for Catalunya Radio, Sala explained that the tax will be of exponential nature, (…), i.e. proportional to the total number of houses owned by each bank. As Sala says, “the tax is neither collection nor deterrent zeal, but a stimulation for banks retaining the empty houses unused to grant them for social renting” (…).

The new charge is still being discussed over, however the secretary gave away that the amount “is likely to duplicate the current IBI rate” (the property tax).

The Regional Government of Catalonia has already achieved granting 400 houses for social renting from CatalunyaCaixa and predicts a prompt end of similar negotiations with Bankia and Sareb.

The Generalitat needs over a million of houses destined for social renting in 70 municipalities this year.

Source: Cinco Días