ITP guide · Balearic Islands

ITP in the Balearic Islands 2026: rate scale, reductions and rebates

Updated: July 8, 2026 · Legislation verified against official sources

General rate 2026 8–13% scale

Reductions and reliefs: 4% main residence (threshold by island); 2% under-36s, disability and large families; 100% rebate <30s or disability.

Calculate your ITP and mortgage in Balearic Islands ↓

In the Balearic Islands, the purchase of a resale (second-hand) home is taxed under the Impuesto sobre Transmisiones Patrimoniales Onerosas (ITP-TPO, the Spanish property transfer tax), which is paid by the buyer and administered by the Agència Tributària de les Illes Balears (ATIB, the Balearic tax agency). The regional rules are contained in the consolidated text of devolved taxes approved by Decreto Legislativo 1/2014, de 6 de junio.

The Balearic Islands combine one of the most progressive rate scales in Spain (from 8% to 13%) with very powerful benefits for a main residence: a 4% rate, a 2% rate for buyers under 36, large and single-parent families or people with disabilities, and a 100% rebate — zero ITP — for under-30s and people with disabilities buying their first home. These benefits depend on value thresholds that have moved twice in 2026: Orden 5/2026 set higher amounts by island with effect from 1 March, and Ley 4/2026, de 11 de junio (BOIB núm. 74, de 13-6-2026, in force since 14-6-2026) has adjusted the system again, raising the floor of those amounts to €331,859.70 and changing the cap for large families. Here is the full picture as of 8 July 2026.

The essentials at a glance

Item Regime in force in 2026
General rate Bracketed scale: 8% - 9% - 10% - 12% - 13% (art. 10.a TR)
Main residence (any buyer) 4% if the value does not exceed the threshold for its island (art. 10.c TR)
Under-36s (first home), disability, large/single-parent families 2% up to the threshold (art. 10.d TR)
Under-30s and disability ≥33% (first main residence) 100% rebate: zero ITP (art. 14 quater TR)
Value thresholds by island Mallorca and Menorca: €331,859.70; Eivissa and Formentera: €378,212 (Orden 5/2026 + Ley 4/2026, confirmed by the ATIB)
Price-capped housing (VPL) 50% rebate (art. 14 septies TR, since 14-6-2026)
Deadline and form 1 month from the act or contract, modelo 600 (ATIB)

When ITP is due (and when it is not)

ITP-TPO applies to resale homes. A new home bought from the developer carries IVA (Spanish VAT) at 10% plus Actos Jurídicos Documentados (AJD, stamp duty; the Balearic general rate is 1.5%, rising to 2% if the property is worth €1,000,000 or more and, since 14-6-2026, with reduced rates of 1% and 0.5% for a first main residence, art. 17 TR). Under TPO there are no specific increased rates — and no special regime for large-scale holders: progressivity is achieved through the scale itself.

The taxable base: the Catastro reference value

The taxable base is the Catastro reference value (valor de referencia) or, if higher, the price or declared value (art. 10 del TRLITPAJD, Real Decreto Legislativo 1/1993). The Balearic consolidated text itself provides that references to “actual value” in its articles 10, 14 quater, 17 and 17 bis are to be read as the cadastral reference value and, failing that, the market value (DA tercera TR, introduced by Ley 5/2021).

The general rate: the bracketed scale

Scale in force since 2023 (art. 10.a TR, as worded by Ley 11/2022):

Property value from (€) Tax on lower bracket (€) Remaining value up to (€) Rate (%)
0 0 400,000 8
400,000.01 32,000 200,000 9
600,000.01 50,000 400,000 10
1,000,000.01 90,000 2,000,000 12
2,000,000.01 210,000 Above 13

The tax due is calculated using an “average rate”: the scale is applied to the total value of the property and the resulting percentage (to two decimal places) is applied to your net taxable base, so buying a share does not change the bracket (art. 10 TR and the ATIB’s official explanation). Stand-alone parking spaces (other than up to two annexed to the home) have their own scale: 8% up to €30,000 and 9% above (art. 10.b TR).

The value thresholds by island (the key to every benefit)

The main-residence benefits start from a base amount of €270,151.20. The fifth additional provision of the TR allows the conseller for Finance (regional finance minister) to raise it by order by up to 40% in the islands or areas with the highest prices:

  • Orden 5/2026, de 16 de marzo (BOIB núm. 34, de 17-3-2026), with effect from 1-3-2026: Mallorca €307,089, Menorca €270,151.20, Eivissa €378,212, Formentera €378,212.
  • Ley 4/2026, de 11 de junio (DF sexagésimo séptima, in force since 14-6-2026): the amounts set by that order may not be lower than €331,859.70 (the value at 1-1-2026 of a price-capped home of 90 m² of usable floor area, type 2, municipality A and energy rating A). The ATIB itself, in its official notice of 13-6-2026 on the tax measures of Ley 4/2026, confirms the resulting operative thresholds: €331,859.70 for homes located in Mallorca and Menorca and €378,212 for those in Eivissa and Formentera.

Common rule (DA quinta.2 TR): where the value of the home exceeds €270,151.20 but fits within the threshold for its island, the reduced rate (4% or 2%) applies only to the first €270,151.20 and the excess is taxed at 8%; the 100% rebate likewise applies only to the first €270,151.20.

Reduced rates in force in 2026

Main residence (any buyer): 4%

Requirements (art. 10.c TR, as worded by Ley 12/2023):

  • The property must be intended as the buyer’s main residence (as defined for IRPF, Spanish personal income tax).
  • Actual or declared value (whichever is higher) equal to or below €270,151.20 or the increased threshold for its island.
  • Acquiring at least 50% of full ownership or of the right of use or enjoyment.
  • Not owning, or co-owning 50% or more of, another dwelling (full ownership or use/enjoyment).
  • If the requirements are breached, the benefit is lost and a supplementary self-assessment must be filed within one month, with interest.

Under-36s, disability, large and single-parent families: 2%

The same general requirements as the 4% rate (value within the threshold, ≥50%, no other dwelling) plus falling within one of these cases (art. 10.d TR):

  • Buyer under 36 purchasing their first home (ownership or use/enjoyment ≥50%).
  • Buyer entitled to the disability allowance for ascendants or descendants in their latest IRPF return.
  • Main residence of parents living with the children of a large or single-parent family. Specific value cap: since 14-6-2026, the amount in the applicable island order increased by 15% (previously a fixed €350,000); for general-category single-parent families the ordinary threshold applies (art. 10.d).3.º, as worded by Ley 4/2026). In these cases the 2% applies to the first €270,151.20 and the excess is taxed at 8%.

Other reduced rates (not main residence)

Registered office or workplace of newly created companies: 3.5% (art. 11 TR); properties in the Parque Balear de Innovación Tecnológica (ParcBit): 0.5% (art. 12 TR); business transfers without waiving the IVA exemption: 4% (art. 13 TR).

Rebates and deductions on the tax due

Under-30s and people with a disability ≥33%: 100% rebate (zero ITP)

Full requirements (art. 14 quater TR, introduced by Decreto ley 4/2023 and amended by Leyes 11/2023 and 12/2023):

  • Habitual residence in the Balearic Islands for the 3 years before the purchase.
  • It must be the first home of which at least 50% of full ownership is acquired, and the buyer must not own or co-own (≥50%) any other.
  • It must be the main residence as defined for IRPF and keep that status for 3 years, without being transferred.
  • Actual or declared value (if higher) of the home not exceeding €270,151.20 or the threshold for its island; the rebate covers only the first €270,151.20.
  • Income: total IRPF taxable base for the latest tax year not exceeding €52,800 (individual) or €84,480 (joint).
  • Having taken out a mortgage loan for at least 60% of the appraised value.
  • The rebate does not remove the obligation to file the self-assessment (modelo 600); a breach requires regularisation with interest.

Price-capped housing (VPL): 50% rebate

New since 14-6-2026: transfers for consideration of properties classified as price-capped housing (vivienda de precio limitado, art. 2 de la Ley balear 3/2024) enjoy a 50% rebate on the tax due (art. 14 septies TR, added by Ley 4/2026).

There is also a 100% deduction for excess inheritance allotments compensated with other estate assets (art. 14 quinquies TR) and a 99% rebate for transfers of rural land tied to professional agricultural holdings (art. 14 sexties TR). There is no general rebate for other buyers.

How to pay: form and deadline

The tax is self-assessed using modelo 600 (form 600). The deadline for paying and filing the self-assessment, together with the document giving rise to the taxable event, is one month from the date on which the act or contract is executed (source: ATIB, modelo 600 fact sheet). Filing can be done online or at ATIB offices by appointment.

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Frequently asked questions about the ITP in Balearic Islands

How much ITP is paid in Balearic Islands in 2026? ▼

The current general rate is 8–13% scale. There are also reduced rates and reliefs: 4% main residence (threshold by island); 2% under-36s, disability and large families; 100% rebate <30s or disability. Every relief has detailed requirements, explained in this guide with its legal citation.

Who pays the ITP and what is the deadline in Balearic Islands? ▼

The buyer of the resale home always pays the ITP, through a self-assessment filed with the corresponding tax administration. The usual deadline is 30 working days or one month from signing the deed; the exact form and deadline are covered in this guide.

What value is the ITP calculated on in Balearic Islands? ▼

On the cadastral reference value or the purchase price if higher (art. 10 TRLITPAJD, since 2022). Paying a price below the reference value does not reduce the tax.

Do new-build homes pay ITP in Balearic Islands? ▼

No. A new home bought from the developer is subject to 10% VAT (4% for special-regime subsidised housing) plus stamp duty (AJD). The ITP only applies to resale homes in Balearic Islands.

Comparing with another region?

The same home can pay a very different tax a few kilometres away: check the current ITP in every other region.

Andalusia 7% Aragon 8–10% scale Asturias 8/9/10% by value Canary Islands 6.5% Cantabria 9% Castilla y León 8% (+10% above €250,000) Castilla-La Mancha 9 % Catalonia 10–13% scale Ceuta and Melilla 6% with a 50% rebate → 3% effective Valencian Community 9% (11% above €1M) Extremadura 8/10/11% scale Galicia 8 % La Rioja 7% Madrid 6% Murcia 7.75% Navarre 6% Basque Country 4% housing (7% general)