After years of continuous increases and paying the most expensive IBI Tax in Majorca, Soller City Council is finally considering the possibility of a reduction in 2021.
In 2020, people in Soller will pay 7,048,594 euros which is considered an unsustainable tax burden for many families. The first collection of 60%, was passed to taxpayers in July, which for many coincided with the payment of their income tax return.
The remaining 40% will be collected in November and it will be particularly difficult for many people to scrape the money together this year because thousands are still on ERTE due to the coronavirus crisis.
Soller Mayor, Carlos Simarro, has announced that he has commissioned economic services to reduce this tax.
Since 2012 the City Council has had to approve an economic adjustment plan overseen by the Ministry of Finance which legally prevented the lowering of the IBI because revenues had to be kept at the same level.
Mayor Simarro pointed out that the situation has changed since a significant debt repayment was approved in July, which now makes it possible to get out of these legal restrictions.
The 7.5% tax rate applied in urban areas of Soller is the highest on the Island and the cadastral values are also amongst the highest because of high property values.