Overview
The toolkit includes calculators to help you make financial and tax decisions related to your properties. The interest rate calculator is built into the app and directly feeds into your analyses. In addition, three public tax calculators—personal income tax on rental income, municipal capital gains tax, and property tax—are available for free and without registration, featuring real-time calculations, servers located in Europe, and compliance with the GDPR.
Interest Rate Calculator: Estimate Loan Terms
The interest rate calculator estimates a realistic rate and the expected interest based on current market conditions and your individual risk profile. It uses the ECB's reference rate as a starting point and applies the appropriate markups based on risk factors.
You can choose between two calculation methods: percentage or basis points. The base interest rate is taken from the ECB (shown as a reference) and can be adjusted manually.
Risk factors determine the spread over the base rate. The interest rate fixation period influences the risk: shorter and longer terms are assessed differently. The equity ratio is one of the most important factors: the higher the equity contribution, the lower the risk and, therefore, the interest rate. Finally, the loan amount and term complete the assessment.
The result shows the estimated rate based on the ECB's base rate and the calculated markups. The tool is integrated into ImmoCheck and the financing record: when you open it from there, the available data is automatically populated, and the "Apply" button transfers the calculated rate directly to the form, where it will be used to calculate the interest.
Rental Income Tax Calculator: Optimizing Your Tax Return
The rental income tax calculator estimates the tax liability on your rental income and shows you how to take advantage of the 60% deduction on net income. It is a free, public tool that requires no registration and provides real-time calculations.
Enter the annual gross rent, annual deductible expenses, and your marginal income tax rate, and indicate whether this is a rental of your primary residence to apply the 60% reduction. The result shows the income tax due and the effective tax rate.
According to the information provided by the tool itself, deductible expenses from rental income include mortgage interest, property tax (IBI), homeowners’ association fees, repairs and maintenance, property insurance, and depreciation (which can be calculated at 3% of the construction value, excluding the value of the land).
The 60% reduction is provided for in Law 35/2006, Article 23.2: landlords of long-term primary residences may apply a 60% reduction to the net rental income. To do so, certain requirements must be met, such as the lease being for at least twelve months, the tenant being an individual rather than a business, and the property serving as the tenant’s primary residence.
Municipal Capital Gains Tax Calculator (IIVTNU)
The Municipal Capital Gains Calculator estimates the Tax on the Increase in Value of Urban Land (IIVTNU) that is due when a property is sold. It is publicly available, free of charge, and requires no registration, with real-time calculations.
Enter the purchase price and sale price, the number of years of ownership, the assessed land value, and the total assessed value, as well as the municipal tax rate (with a legal maximum of 30%, depending on each municipality’s ordinance). The tool calculates the capital gains tax due and indicates which method was used.
Following the 2021 reform, the tax can be calculated using two methods, and the taxpayer may choose the more favorable one: the objective method, based on the assessed value of the land multiplied by a coefficient that varies according to the number of years of ownership; and the actual method, based on the actual gain from the sale, applying the ratio between the value of the land and the total value of the property. It is important to note that if there is no actual gain on the sale—for example, if the sale price is lower than the purchase price—this tax does not apply.
Property Tax Calculator
The Property Tax Calculator determines the property tax on your property based on the assessed value and the municipal tax rate, and displays the annual and monthly amounts. It is publicly available, free of charge, and requires no registration, with real-time calculations.
Enter the assessed value and the tax rate, which falls within a legal range of approximately 0.4% to 1.1% and varies by municipality. The tool provides reference values for some cities as a guide. The IBI is a municipal tax paid by owners of urban and rural properties; it is calculated annually and funds the municipality’s public services. All property owners in Spain, both individuals and companies, are required to pay it.
Integration into the analysis workflow
The interest rate calculator is integrated into ImmoCheck and the financing record, so the estimated rate is automatically included in the analysis with a single click, without the need to enter it manually. Public tax calculators can be used independently to prepare or verify figures before entering them into your analyses.