Wealth Tax in Valencia: Patrimonio, Exemptions, Filing

If you habitually reside in the Comunitat Valenciana, the law in force since 11 August 2026 reduces your taxable base by an exempt minimum of €2,000,000. Your main home is exempt up to €300,000. You file Modelo 714 online when the tax is payable or your assets exceed €2,000,000.

If you habitually reside in the Comunitat Valenciana, the law in force since 11 August 2026 exempts the first €2,000,000 of your taxable base from wealth tax, and your main home is exempt up to €300,000.

Does it reach you?

Wealth Tax (Impuesto sobre el Patrimonio) taxes what you own on 31 December. If your habitual residence is in Spain, it covers your whole net wealth, wherever the assets are. Habitual residence follows the income tax criteria, and the tax residency guide explains that test.

If you live abroad, only assets and rights in Spain are taxed, with a minimum exemption of €700,000 (as of September 2024). If you leave Spain, you may choose to keep paying as a resident by filing that return in the first year you are no longer resident. Ask an adviser before you move.

The €2,000,000 minimum

If you habitually reside in the Comunitat Valenciana, the law in force since 11 August 2026 reduces your taxable base by an exempt minimum of €2,000,000. It does not state a first accrual date for the new minimum, so if your wealth is close to the line, ask an adviser to confirm.

What else is exempt?

Your main home is exempt up to €300,000. Household goods, pension plan rights and assets you need for your own business or profession are exempt too, each under its own conditions. Run through these three before you add up your wealth, because they often decide whether you are near the line at all.

How much tax is it?

After the exempt minimum, the Valencian scale applies to what is left. Rates climb from 0.25% to 3.5%.

Say you are a Valencian resident with net wealth of €2,500,000, including a main home worth €400,000. The home is exempt up to €300,000, which leaves €2,200,000. If the €2,000,000 minimum applies to your tax year, the base is €200,000, and the tax comes to €539.44.

As a resident, Wealth Tax plus IRPF cannot exceed 60% of the sum of your IRPF tax bases. Wealth Tax is reduced to reach that limit, by at most 80%.

Do you have to file?

File Modelo 714 if the tax comes out payable or, if not, if your assets exceed €2,000,000. For that test, assets count whether or not they are exempt, before charges and personal debts, so you can owe nothing and still have to file.

File online with an electronic certificate, DNI electrónico, Cl@vePIN or a reference number; the digital certificate guide covers getting one. The filing period is the same as for the income tax return of each year, and for tax year 2025 it ran 8 April to 30 June 2026.

If you opt into the Beckham regime, which taxes you as a non-resident for income tax, Wealth Tax covers only your assets in Spain. See the Beckham law guide.

The solidarity tax on large fortunes

The solidarity tax (ITSGF) applies when your net wealth at the accrual date is above €3,000,000. Its exempt minimum is €700,000. It stays in force until wealth taxation is reviewed within the reform of regional financing. Any Wealth Tax you paid for the year is deductible. You file online if it comes out payable.

Related guides

• Buy property in Valencia for the taxes at purchase.
• Resident vs non-resident tax for IRPF and IRNR.
• Foreign assets return if you hold assets abroad.

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Not confirmed: Ley 5/2026 gives only its entry into force, not a first accrual date for the new €2,000,000 minimum. If your wealth is close to the line, ask an adviser to confirm.

General information checked against the sources listed above, not legal advice for your situation. Rules and office practice change; confirm with the immigration office or a licensed adviser before you act. See how guides are checked.

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