In Spain, having a place to park your car is a fundamental need for those who own one. Public transportation, while convenient, sometimes doesn’t go everywhere. have a single garage ensures that one can get where they want to go without having to worry about finding a place to park the car.
Living in Madrid, for example, and not having a place to store your car, can be somewhat complicated. Madrid is a city where the vast majority of its parking spaces are occupied. Here we are going to learn today what is a single garage and how convenient it can be. We will also talk about some related aspects.
What is a single garage?
An individual garage in Spain it is a private space, which is normally located in a residential area, and which is used to store a car. It is a comfortable and safe way to protect a car from bad weather and theft. It is built with the intention of offering a safe storage space for the car and other delicate items.
Generally, they usually have security doors that keep both the car and the items inside safe. An individual garage in Spain it can be a great asset for those who need to have a safe place to store their car and those who need some space to store certain things.
What are the advantages of having an individual garage?
Having a single car garage can provide you with many advantages, from greater security to greater comfort:
- You may keep your car safe from bad weatheras well as possible theft or acts of vandalism.
- You may store tools, garden equipment or other objects that would otherwise take up valuable space in your home.
- May provide you with a suitable and convenient place to work on your projects or store items you don’t want to keep in your home.
- Too adds value to your homesince you can use it as additional living space or even rent it out for extra income.
- In short, having an individual garage can provide a safe, comfortable and valuable addition to your home.
What taxes must be paid for an individual garage in Spain?
Owning a garage in Spain can entail a series of taxes and fees. Depending on the location, size and purpose of the garage, taxes and fees may vary. For example, if the garage is used for business purposes, additional taxes may apply.
It is important to research local regulations and taxes to ensure that all applicable taxes are paid. If you have purchased a home together with one or two parking spaces. The Treasury considers that they are part of your habitual residence. These must be included in the deed of the house and within the same property registry.
For this type of garages, taxes will not be paid in the IRPF. But if the garage space is separated from your habitual residence or you have made the acquisition independently, it must be identified with its own cadastral reference when declaring the Income.
Taxation can vary between 1.1% and 2.2% of its cadastral valueaccording to the income allocation regime.