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Govern de les Illes BalearsDecreto Ley 3/2023 (BOIB núm. 95)

100% Property Transfer Tax (ITP) Exemption for Young Buyers Under 35 in Mallorca

Official Balearic decree removing property transfer tax (0% rate) on first primary residence purchases under 35 years old valued up to €270,151.

BOIB Publication:
Effective Date:
View Official Text in BOIB ↗
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Key Benefit & Scope of Application

Direct tax savings of up to €21,612 on purchase of main residence compared to standard 8% rate.

Official ATIB Tax Calculator

Balearic Property Transfer Tax (ITP): Home Purchase & 0% Youth Exemption

Calculate your exact Property Transfer Tax in Mallorca under Decree-Law 3/2023 and the ATIB progressive tax brackets.

€
Buyer profile and property classification:

Estimated Tax Assessment (ATIB Form 600)

Declared purchase value:250.000 €
Applicable tax rate:0.0%
Total tax payable (ITP):0,00 €
Direct tax savings from regional exemption:20.000,00 €

Filing Deadline with Tax Agency (ATIB):

The tax is triggered on the signing date of the notary deed. You have 1 calendar month to self-assess and file Form 600 through the ATIB electronic portal or in person with prior appointment.

Official tax calculation following Balearic Islands Decree-Law 3/2023.

Practical Highlights & Essential Terms

1

Age and Residency Requirement

Under 36 years old on purchase date and legally resident in the Balearic Islands continuously for at least 3 consecutive years.

2

Property Valuation Threshold

The purchase price or real tax value cannot exceed €270,151.20 for 100% exemption. Large families cap extends to €350,000.

3

Mandatory Primary Occupancy

Must be occupied as primary residence within 12 months from purchase date and maintained for at least 3 consecutive years.

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