Mission Statement: to assist the integration of foreign residents living in Spain
By Nina Cook •
Published: 31 Oct 2024 • 23:27
• 1 minute read
The Albox Town Council has introduced a proposal to reduce local taxes by 70% for new residents, aiming to boost the town’s population and stimulate economic growth.
This significant tax reduction would apply to property tax (IBI), vehicle tax, and other local levies, providing newcomers with substantial savings over the next few years.
Albox tax reduction
The proposal, promoted by Mayor Francisco Torrecillas, is designed to make Albox a more attractive destination for people considering relocation. “We want to offer an incentive to those looking for a place to settle, especially younger people and families,” said Torrecillas. By reducing the financial burden on residents, the council hopes to create a more vibrant community and increase local spending, which in turn would benefit local businesses and services.
If approved, the tax reduction will be applied progressively over three years. New residents will receive a 70% discount in the first year, followed by 50% in the second year, and 30% in the third, before returning to standard rates. The council believes this phased approach will provide long-term benefits, encouraging people to invest in the area rather than relocating temporarily.
Albox’s population has declined in recent years, a trend observed in many rural parts of Spain. The council’s initiative is part of a broader strategy to revitalise the local economy and combat depopulation by making the town more financially appealing. As the proposal awaits further discussion and approval, local leaders are optimistic that the tax reduction plan will attract new residents and help reshape Albox’s demographic and economic landscape for the future.
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Nina Cook is a writer, editor, and literary translator, born in England and raised in New Zealand. In 2015 she fell under the spell of coastal Almería, where she continues to cultivate her love for language and literature. Follow her on X: @esoledit
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